Pfizer would be more inclined to split rather than sell its Animal Health division, to avoid having to pay taxes on any capital gains from the sale. On the other hand, the decision on the Nutritional division continues. In July 2011, Pfizer announced its intention to sell or split the 2 divisions, deeming it would take 12-24 months to complete the operation. According to a Credit Suisse analyst, the combined value of those assets could be between $25 and $32 billion.
(Les Echos online – 11/23/2011)
Lipitor at generic price, Pfizer's new strategy
In an attempt to maintain the good performance of the anti-cholesterol Lipitor (atorvastatin) despite the patent expiry at the end of November 2011, Pfizer is evaluating the possibility of marketing the drug at a generic price directly to patients. According to Ims Health data, Lipitor has generated more than $81 billion in sales since its launch in 1997.
(The Wall Street Journal online – 22/11/2011, The Wall Street Journal Europe Pag.18 – 23/11/2011)
Pfizer settles fine of 60 billion
Pfizer will pay 60 billion dollars to settle a dispute with the US government over the payment of possible bribes to win contracts outside US borders. The deal will be announced before the end of 2011.
(The Wall Street Journal Europe Pg.21 – 21/11/2011, The Wall Street Journal online – 21/11/2011, Corriere della Sera Pag.35 – 22/11/2011, Il Sole 24 Ore Finance & Markets Pag.41 – 22/11/2011)
Pfizer acquires US biotech Excaliard
Pfizer has acquired the Californian biotech Excaliard, specialized in treatments for skin fibrosis and hypertrophic scars. The amount of the transaction was not disclosed. The company has in phase II development EXC 001, a drug that facilitates the healing of skin scars.
