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Home Industry News Pfizer Animal Health to undergo strategic review

Pfizer Animal Health to undergo strategic review

8th July 2011

Pfizer Animal Health is to be the subject of a strategic review as parent company Pfizer seeks to determine the best way of maximising the value of the business.

The pharmaceutical company is to consider all available future options for its veterinary medicines unit, which could potentially include its separation from Pfizer into a spin-off company, or a full sale.

Pfizer notes that its animal health unit is a world leader in the sector, operating in more than 60 countries and generating revenues of around $3.6 billion (2.2 billion pounds) in 2010.

However, with the group seeking to increase its focus on its core biopharmaceutical operations, it is considering whether the future prospects of Pfizer Animal Health may be best served by divesting it.

Ian Read, president and chief executive officer at Pfizer, said: "Our decisions will continue to support our long-term strategy to allocate our resources, investments and people to the areas that best serve our patients and customers and generate the best value for our shareholders."

In the first quarter of 2011, the firm generated a $982 million revenue total, up by 16 percent year on year.ADNFCR-8000103-ID-800616483-ADNFCR

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