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，辉瑞公司计划于2013年1月或2月为其动物保健子公司Zoetis进行首次公开募股（IPO），预计募集资金将达40亿美元。知情人士还表示，此次IPO的最终发布取决于实际的市场状况，但辉瑞公司明确表示公开上市将是Zoetis未来发展的必由之路。该子公司的业务总产值预计将达到200亿美元，而这已经超过了未来潜在战略买家的可承受范围。此前诺华和拜耳均有意收购辉瑞动保业务，但随着标价超过了200亿美元，他们的兴趣也随之降温。辉瑞称由于其动保产品并非人类健康业务的核心组成，因此从去年起就开始计划剥离动保业务用以集资，并通过回买股票的形式返还给股东。

回购津贴        buyback allowance
减价促销        cents-off promotion
套装赠送        combination offer
广告津贴        advertising allowance
什锦袋装样品   polybagging
联合广告        cooperative/co-op advertising