Zoetis raises $2.2bn in IPO but other pharma majors to retain animal health
This article was originally published in Scrip
Pfizer's animal health spinout Zoetis priced its initial public offering at $26 per share late 31 January - $1 above the previously announced range of $22 to $25 - to raise $2.2 billion from the sale of 86.1 million shares.
You may also be interested in...
Company specializing in trading upfront cash for downstream earnings makes its public debut with largest IPO of 2020, and the second largest ever in biopharma.
Keytruda continues to break records on the strength of its efficacy in lung cancer, and shows no signs of slowing down. But analysts were intrigued by repeated mentions of business development during Merck’s third quarter earnings call.
Chief Operating Officer Albert Bourla will succeed Ian Read as CEO of Pfizer, taking over the top spot at a steady point in the big pharma's evolution. Bourla's near-term challenges will be navigating the loss of Lyrica and the changing US health care dynamics.