Pfizer Inc, the world's largest drugmaker is exploring alternativesincluding a possible sale of its animal health and nutrition businesses in the next two years in order to focus on expanding its low-cost pharmaceuticals unit.
The New York-based pharmaceutical giant today said that it is considering options that may include, among others, a full or partial separation through a spin-off, sale or other options. Given the separate and distinct nature of the animal health and nutrition businesses, the company may pursue a different strategic alternative for each business.
Pfizer's animal health business is a leader in the discovery, development, manufacture and commercialisation of products, including vaccines, medicines, diagnostics and genetic tests to prevent and treat disease in livestock and companion animals.
This division has operations in over 60 countries, an extensive research and development network with major research centre on four continents and strong market positions across several geographic regions, including the US, Europe, Africa and Middle East, Canada and Latin America, and Asia-Pacific.
In 2010 the animal health business contributed approximately $3.6 billion to Pfizer's revenues.
Pfizer's nutrition b usiness caters to infant and paediatric nutrition, providing quality formulae and nutritional products for infants and children up to seven years old. This business has operations on six continents, products available in more than 60 countries, and a focused presence in key markets throughout Asia, the Middle East, Europe and Latin America, with China, Philippines, United Kingdom, Mexico and Australia being among its top markets.