Pfizer: Established Products And Consumer Health In; Animal Health And Nutrition Out
This article was originally published in The Pink Sheet Daily
Executive SummaryPfizer takes a middle-of-the-road approach to breaking out non-core businesses, announcing plans to explore alternatives for Animal Health and Nutrition.
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Pfizer's ambitious plans to spin out its Upjohn branded and generics business will result in a smaller, innovation-focused pharma. The decision comes after nine years of back-and-forth about whether the move would unlock value.
Beyond the sale of its nutritionals business and spin-out of animal health into Zoetis, no additional separations are planned for Pfizer in the near-term. But CEO Ian Read discussed how he sees the company’s Established Products and Emerging Markets businesses evolving over the long-term, including the potential for an eventual breakout, during a year-end financial call Jan. 29.
Pfizer CFO Frank D’Amelio talks about the big pharma’s long-term vision and cost-reduction initiatives during the Morgan Stanley Healthcare conference. Management will continue reviewing the portfolio on an ongoing basis to see how best to maximize shareholder value, he said.