Pfizer May Sell Animal-health Assets
GENERAL - Pfizer Inc. is “actively engaged in negotiations’’ over animal-health assets that it must divest to win US regulatory approval for its acquisition of Wyeth, a Pfizer executive said.
23 July 2009
1 minute read
According to a news article from Bloomberg, multiple parties expressed interest in the animal products, which the marketplace has viewed as “desirable,’’ chief financial officer Frank D’Amelio said yesterday.
“In the US we are actively engaged in negotiations in animal health,’’ D’Amelio told Bloomberg. “There are parties that have expressed interest.’’
D’Amelio declined to elaborate on the bidding process. When Pfizer completes its purchase of Wyeth, it will have the world’s biggest animal-health business, with about $4 billion in annual revenue, the company said.
Pfizer has said it may have to divest some of its animal assets. The company is unlikely to divest products with more than $400 million in annual revenue.
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