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Pfizer Inc. (PFE) said it plans to shed its majority stake in animal-health company Zoetis Inc. (ZTS), continuing Pfizer's efforts to its hone its focus on drugs and vaccines for humans.The company has been shedding nonpharmaceutical assets over the past two years, and using proceeds to repurchase its shares in an effort to bolster shareholder returns. At the same time, Pfizer has cut costs and tried to improve the productivity of its research-and-development pipeline to help soften the impact of the loss of market exclusivity for its big-selling cholesterol drug Lipitor and other drugs.New York-based Pfizer will offer its shareholders the opportunity to exchange Pfizer shares for shares of Zoetis at a discount, to complete a full separation of Zoetis into an independent company.In February, Pfizer sold nearly 20% of Zoetis shares in a successful initial public offering that raised more than $2 billion, and maintained ownership of the remaining stake.Pfizer indicated at that time that ...
The European Union called Tuesday for urgent action to prevent companies from using "artificial" measures to avoid tax, after U.S. investigators found that Apple Inc...
European investigators have asked top trading houses Glencore , Vitol and Gunvor to help with a probe into oil price manipulation, while not suggesting they are unde...
Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry ba...
German Economy Minister Philipp Roesler said the European Commission made a "grave mistake" by agreeing to impose punitive import duties on solar panels from China a...
Europe's top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating a...
A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Fri...
The head of French oil company Total SA (TOT) said Friday he believed the companies being investigated as part of a European Commission probe into alleged oil-price ...
EU antitrust regulators have given some of Google's rivals more time to study its proposals to settle anti-competitive complaints, which could provide more leverage ...
International Finance Corp., a World Bank affiliate, agreed to acquire a 7.9% stake in Brazil's insurance company Sul America SA (SULA11.BR, SULA4.BR) for 400 millio...
Business leaders from across Europe met in Brussels on Thursday to discuss--among other things--a proposal from the European Commission to "reindustrialize Europe." ...
The International Monetary Fund is planning to send two missions to Spain in the coming weeks, one to study the country's ailing bank sector and the other for the na...
The International Monetary Fund is planning to send two missions to Spain in the coming weeks, one to study the country's ailing bank sector and the other for the na...
Faced with the fallout of austerity and embarrassing tax-evasion scandals, European Union leaders pledged Wednesday to ensure that everybody--from high-income earner...
Pearson PLC's book publishing business, Penguin Group, has agreed to pay $75 million to settle a dispute in the U.S. over the way it priced electronic books, drawing...
WUXI, China/HONG KONG (Reuters) - Local creditors of Wuxi Suntech, the bankrupt unit of Chinese solar panel maker Suntech Power Holdings Co Ltd, on Wednesday claimed...
Gilead Sciences Inc. (GILD) said the marketing authorization application for its new hepatitis C drug has been validated by the European Medicines Agency and granted...
The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed.At the sam...
Two executives at Japan's Denso Corp <6902.T> have agreed to plead guilty to conspiring to fix prices of electronic auto parts sold to Toyota and will cooperate with...
The European Union wants to exclude much of the utility sector from a prospective EU-U.S. free trade agreement in order to protect government controlled infrastructu...
