Pfizer’s Zoetis Forms Federal PAC

Zoetis Inc., the animal-health company spun off by Pfizer Inc., has created a federal political action committee to promote and protect its interests in Congress.

Zoetis, based in Madison, New Jersey, created the PAC on Jan. 31, according to paperwork it filed with the Federal Election Commission.

Zoetis raised $2.24 billion in an initial public offering this week, the biggest in the U.S. since Facebook Inc.’s IPO last year, Bloomberg News reported.

Company PACs typically make political donations to high-ranking members of Congress and members of committees that have jurisdiction over issues of interest to the companies. Pfizer, the world’s biggest drugmaker, donated more than $1 million to federal candidates in the 2012 election through its federal PAC, according to the Center for Responsive Politics, a Washington-based research group that tracks campaign giving.

 

What do you think about this article? Comment below!