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Pharmaceutical

Pfizer CEO Read Considering Sale of Four Divisions

May 04, 2011
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Bloomberg reports that Pfizer Chief Executive Officer Ian Read is reviewing the possible sale or spinoff of four divisions with $18.3 billion in annual revenue, led by the company’s third-biggest unit, established products. Results of the division reviews will be announced in the second half this year and in early 2012. The emerging-markets portion of Pfizer’s established-products business is big enough to stand on its own, with $915 million in sales in the first quarter, he said. No decisions have been made. Read, who took control of Pfizer in November, said in February that he was reviewing each of the company’s units to focus on product development.

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