Pfizer, Inc. will be offering $100 million in stock for its Animal Health Unit. The Animal Health Unit has operations in both Kalamazoo and Richland, Michigan employing approximately 700 people. This stock offering is part of Pfizer's overall business planning that began earlier this year with the sale of its infant nutrition business to Nestle.
In its plan to the Securities and Exchange Commission, Pfizer identifies Zoetis, Inc. as the new company for its animal health unit. The stock offering will be a way for Pfizer to settle some debt. Class A stock will be offered amounting to about 20% of the company, and Pfizer will retain the controlling interest in the company with Class B stock.
According to Pfizer, Zoetis is part of Pfizer's attempt to get back to its core business, which is drug making. Pfizer's Kalamazoo location is the world headquarters for Pfizer's Veterinary Medicine Research & Development and Animal Genetics. Just two of its pharmaceutical advances for animals include Revolution, a flea and parasite medicine, and Palladia, a cancer drug for dogs.
Taking the time to review every part of a business' operations and make changes where necessary in order to give the company the best chance of success is essential. Not all companies' business planning will take years to execute, but Pfizer's example is a good one. Deciding what needs to be done is only half the battle -- knowing how to get where you want to go is the other half. Once there is a vision for the future of a company, obtaining advice on how to get there is the next step. Knowing ahead of time what needs to be done to ensure the company is in compliance with both Michigan and federal law can make the execution of any business plan as smooth as possible.
Source: mlive.com, " Pfizer files IPO plan for Animal Heath unit ," Yvonne Zipp, Aug. 13, 2012