Pfizer opts against splitting company in two

Pfizer has announced that it will not be moving ahead with the option of splitting the company into two separate businesses.

After an extensive evaluation, Pfizer's board of directors and executive leadership team have decided to stick with the company's current structure, rather than splitting its Innovative Health and Essential Health units into two separate publicly-traded companies.

It considered the performance of each business within Pfizer to determine if both could compete as standalone entities, as well as assessing whether any untapped value existed in the combined entity that would be unlocked by a separation.

Pfizer's bosses have now decided that this is not the case at this time, with the Innovative Health division enjoying strong growth prospects thanks to the acquisition of Anacor and pending buyout of Medivation, while the Essential Health unit is positioned to return to sustainable growth over the next few years.

Ian Read, chairman and chief executive officer of Pfizer, said: "Our two distinct businesses will remain separately managed units within Pfizer, which we believe is currently the best structure to continue to deliver on our commitments to patients, physicians, payers and governments, and to drive value for our shareholders."

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