February 8, 2012

Pfizer India sells animal health division for US$90 million 

Pfizer India announced on Tuesday (Feb 7) the sale of its animal-health division in a slump sale to a wholly-owned unit for INR4.4 billion (US$90 million).

The Indian unit's move to sell the division is part of a strategy whereby the US parent company is shedding its animal-health and nutrition units to hone its focus on pharmaceuticals.

Pfizer Chief Executive Ian Read said last week the company remains on track with its timeline of finalising strategic decisions for the animal-health and nutrition businesses this year and continues to expect that any separation of these businesses from Pfizer will occur between July 2012 and July 2013.