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Thu July 7, 2011
Pfizer may sell animal health, nutrition units
NEW YORK (AP) Pfizer says it may sell its animal health and nutrition business in the next two years so it can focus on expanding its low-cost pharmaceuticals unit.
Pfizer says it will also consider transactions including spinoffs and may pursue different strategies for each business. It said any transactions could take one to two years to complete.
The businesses brought Pfizer Inc. $5.5 billion in revenue in 2010, about 8 percent of its total. The Animal Health unit makes vaccines, medicines, diagnostics and other items to prevent and treat diseases in livestock and pets, and the nutrition unit makes infant and pediatric products.
The New York drugmaker say it will focus on its established products business, which makes drugs that are off-patent or are losing patent protection.