Pfizer Inc. is considering a January or February launch of a roughly $ 4 billion U.S. Initial public offering for animal-health unit Zoetis Inc., according to people familiar with the discussions. A final launch decision will depend on market conditions, these people said. But Pfizer believes that an IPO is the way to go for Zoetis, as the unit's hoped for $ 20 billion valuation has priced it out of the range of potential strategic buyers, they added. Pfizer last year began planning to divest animal-health products, which it believes aren't core to its human-health business, to raise cash and return it to shareholders in the form of stock buyback.

知情人士透露，輝瑞公司計劃于2013年1月或2月為其動物保健子公司Zoetis進行首次公開募股（IPO），預計募集資金將達40億美元。知情人士還表示，此次IPO的最終發布取決于實際的市場狀況，但輝瑞公司明確表示公開上市將是Zoetis未來發展的必由之路。該子公司的業務總產值預計將達到200億美元，而這已經超過了未來潛在戰略買家的可承受范圍。此前諾華和拜耳均有意收購輝瑞動保業務，但隨著標價超過了200億美元，他們的興趣也隨之降溫。輝瑞稱由于其動保產品并非人類健康業務的核心組成，因此從去年起就開始計劃剝離動保業務用以集資，并通過回買股票的形式返還給股東。

回購津貼        buyback allowance
減價促銷        cents-off promotion
套裝贈送        combination offer
廣告津貼        advertising allowance
什錦袋裝樣品   polybagging
聯合廣告        cooperative/co-op advertising