During the first quarter, biopharmaceutical volume [grew]10% in the BRIC-MT* markets…primarily driven by strong growth in China and partially offset by price reductions of 1% to these markets…
If you exclude the product portfolio of products whose rights were transferred to our joint venture in China with Hisun, our operational revenue growth would have been 8% in our emerging markets business, 14% in BRIC-MT countries and 31% in China.
Pfizer (PFE) plans to spin off its remaining stake in Zoetis (ZTS) through a tax-free exchange offer in which Pfizer owners can exchange their Pfizer shares for stock in Zoetis owned by Pfizer (got that?). Pfizer has received a waiver of the 180-day lock-up from the book runners of the Zoetis IPO. PFE +2.1%, ZTS -1.2% premarket.