Pfizer considers selling animal-health and nutrition units
Drug giant Pfizer Inc. said it is exploring strategic options including sales and spinoffs for its animal-health and nutrition units, but will hold onto its generic-drug and consumer health-care businesses.
The decisions are part of Pfizer’s efforts to partially unwind the diversified business line-up it had amassed through years of mega-mergers, and to hone its focus on its core business of developing and marketing prescription drugs and vaccines.
The animal-health and nutrition units together generated less than 10% of Pfizer’s 2010 revenue of $67.8 billion.
“Both Animal Health and Nutrition are strong businesses with attractive customer bases and solid fundamentals, but distinct enough from our core businesses that their value may be best maximized outside the company,” Pfizer Chief Executive Ian Read said in a company press release.