Glass Maker Schott Said to Weigh IPO of $4 Billion Pharma Arm

Schott AG is exploring options for its business making test tubes and glass packaging for the pharmaceuticals industry, including a possible initial public offering, according to people familiar with the matter.

The specialist German glazing company is speaking with potential advisers about a listing of its pharma unit next year, the people said, asking not to be identified discussing confidential information. An IPO could value the business at about $4 billion, the people said.

Schott would have to carve out the unit before any listing, one of the people said. It may also explore other options for its pharma arm, ...