Pfizer Animal Health experiences annual growth in Q3 2012

Pfizer Animal Health has experienced operational growth during the third quarter of 2012, according to parent company Pfizer's latest financial report.

The business unit's revenues increased by four percent year over year during the three-month period, coming to an overall total of $1.02 billion (634.12 million pounds).

This rise was attributed primarily to increased demand across the companion animal and global livestock portfolios in key geographies and comes at a time when Pfizer is planning to spin out the division into an independent entity.

During the quarter, the group filed a registration statement with the US Securities and Exchange Commission for the potential initial public offering of a minority stake in the newly separated business, which will operate under the name Zoetis.

The costs associated with this potential separation impacted Pfizer's earnings in Q3 2012, but it remains confident of delivering strong shareholder returns in the long term.

It comes as part of a wider restructuring of Pfizer's operations, following on from the sale of its infant nutrition business earlier this year.