Summary Box: Pfizer may sell 2 businesses

AP News
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Posted: Jul 07, 2011 11:45 AM
Summary Box: Pfizer may sell 2 businesses

MAKING A DEAL: Pfizer Inc. said Thursday it will consider a sale, split, or spinoff of its animal health business and its nutritional business. The divisions bring in a combined $5.5 billion in annual revenue.

TRIMMING: It's the second time this year Pfizer has said it will shed a business, as in April it agreed to sell its capsule-making unit to a private equity firm for $2.38 billion.

THE DOWNSIDE: Any deal could take as long as two years, and investors may have been disappointed that Pfizer did not announce a larger or a definitive deal. Sales fell 2.3 percent in midday trading.