The pharmaceutical giant has been on a steady climb for several months. Most recently, Pfizer attracted attention by spinning off its animal health unit, Zoetis (NYSE:ZTS). It is the largest publicly traded animal company and raised more than $2.2 billion in its initial public offering, making it the biggest IPO since Facebook (NASDAQ:FB).
Judson Clark, health-care analyst with Edward Jones, tells Bloomberg, “We haven’t seen a pure-play animal health company like this. There was some question about how investors would view it, early signs are that it’s favorable.”
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