Pfizer Explores Options for Animal Health and Nutrition
The long-speculated breakup of New York-based pharmaceutical giant Pfizer (NYSE: PFE) seems to be taking a giant step forward today. The company is “exploring strategic alternatives” for its animal health and nutrition units, so it can better focus on its drug-development and consumer-health pursuits, according to a press release. Pfizer Animal Health is one of the world’s largest providers of medicines, tests, and vaccines for livestock and pets, generating $3.6 billion in revenues last year. Pfizer Nutrition makes infant formula and nutritional products that brought in $1.9 billion in sales in 2010. Pfizer says the options for the businesses include a spin-off or sale, and the company might ultimately pursue separate strategies for the two units.