February 23, 2007

Pfizer bets on beef and pork sector

Pfizer's Brazilian unit is betting on the beef cattle and pork segments in 2007.

In 2006, pork increased the company's livestock earnings by 8.3 percent from the year before.

The company expects an improvement in this year's agricultural product sales, which dropped by 20 percent in 2006 against 2005.

Pfizer's animal health division expects a positive scenario for 2007 due to a recent 30 percent hike in the prices of soy and sweetcorn at the CBOT.

Although 2006 was not a good year for the Brazilian livestock industry (except for beef cattle) because of a drop in prices and in exports, Pfizer's sales were higher than the sector's average on account of new product launches and increased sales network.

The sharpest rise, according to animal health division director Jorge Espanha took place in the poultry and pork segments. The latter reported a 12 percent rise against the market's overall 4 percent.

Meanwhile, Pfizer's beef cattle segment saw a 9 percent rise, which included the sale of foot-and-mouth disease vaccines.