Dow Jones reports that Pfizer India has sold the Animal Health Division in keeping with the parent company's strategy of exiting animalhealth, nutrition businesses.
The move is partof the U.S. parent's aim of reorganizing its operations in a manner that willgive it the most flexibility to focus on its core pharmaceuticals business. About 80% ofPfizer Ltd.'s sales come from the pharmaceuticals division. "Thedecision to get out of the animal health business is positive for Pfizer asthe division's margins were below those of its main pharmaceuticalsbusiness," said an analyst at a local brokerage.
Pfizer ChiefExecutive Ian Read said last week that the company remains on track with itstimeline of finalizing strategic decisions for the animal health and nutritionbusinesses this year. He added that thecompany continues to expect that any separation of these businesses from Pfizerwill occur between July 2012 and July 2013.
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