Zoetis, Pfizer's animal health subsidiary, will establish its global headquarters in Florham Park and move 400 employees there from the company's current location in Madison by June, the company announced Tuesday..
Formerly Pfizer Animal Health, Zoetis recently became a stand-alone company and raised more than $2 billion in an initial public offering last month. Pfizer still owns about 80 percent of the company.
Zoetis is moving into a four-story office at 100 Campus Drive in Florham Park, next to the Park Avenue Club. The building served as BASF's headquarters until BASF moved into its newly-built headquarters near the New York Jets practice facility and corporate headquarters.
Pfizer said Tuesday it plans to sell its office space at 5 Giralda Farms in Madison, where Zoetis has been based, and will relocate all of the 1,000 employees who work there, including 300 employees in Pfizer's consumer healthcare business, by the end of the year. Pfizer said its consumer healthcare employees won't be moving far from the Madison campus, but did not disclose a specific town or location.
Employees who worked in Pfizer's nutrition division, which was sold to Nestle last year, will move to Nestle HealthCare Nutrition's headquarters on Vreeland Road in Florham Park. Remaining Pfizer employees will move to the Pfizer campus in Peapack, Pfizer spokeswoman Joan Campion said.
Zoetis, which develops and sells veterinary vaccines and medicines for farm animals and pets, generated $4.2 billion in revenue in fiscal 2011 and has more than 9,500 employees in approximately 70 countries, according to a Zoetis news release.