The long-speculated breakup of New York-based pharmaceutical giant Pfizer (NYSE: [[ticker: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.
Author: Arlene Weintraub
Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.
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