Pfizer Ltd. (Indian operations of Pfizer Inc.) board has approved the sale of its animal health division to a wholly owned unit for about Rs. 440 Cr. ($90 million).
The move is seen to be a part of the U.S. parent’s aim of reorganizing its operations in a manner that will give it the most flexibility to exit its animal health and nutrition units and focus on its core pharmaceuticals business.
The animal health division, sells products such as the Vanguard canine coronavirus vaccine and Pet Tab Plus vitamin mineral supplements. About 80% of Pfizer Ltd.’s sales come from the pharmaceuticals division. In quarter ending December, animal health segment contributed around 13 % of its total sales.
Pfizer India, is headquartered in Mumbai, and employs about 2500 people across its business verticals.
For those who are interested in Pfizer with regards to career opportunities: Pfizer India has been recognized as one of The Best Companies to Work For by Business Today magazine in 2012. In 2010, Pfizer was awarded the Most Admired Pharmaceutical Company of the Year by Pharma Leaders Magazine. In 2009, the company was rated the Multinational Pharmaceutical Company of the Year by Frost & Sullivan
– Research Desk