Pfizer considers shedding two units |
| Financial Times - Jul 7, 2011 |
Pfizer, the US pharmaceutical group, said it is examining shedding its animal health and nutrition units as part of its efforts to streamline its activities, while retaining its generics business.
The move comes after the company earlier this year said it was reviewing its mix of businesses, at a time of investor criticism over poor returns.
With $5.5bn in combined revenues, the two businesses constitute a small slice of Pfizer’s $68bn sales, thwarting some investors’ hopes that it would opt for more radical surgery.
Pfizer has resolved to hold on to its established products division, which sits within its biopharmaceutical business with revenues of $10bn last year.
The fastest-growing part of the pharmaceuticals industry within the emerging markets is off-patent medicines and generics, Pfizer said on Thursday, explaining why it had chosen to keep the unit. The company will also retain its consumer healthcare business, with revenues of about $2.7bn.
Read Full Article from Financial Times
- Posted: 2011-07-07 14:41:44
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