US-based Pfizer has revealed that it is considering shedding its nutrition and animal health businesses.

The company said on Thursday (7 July) that it is considering, among other alternatives, a full or partial separation of the business through a spin-off, sale or other transaction. Given the distinct nature of the two businesses, it may pursue a different strategy for each business, Pfizer added.

The company's nutrition business generated some US$1.9bn in revenue during 2010, with its presence focused throughout Asia, the Middle East, Europe and Latin America.

Pfizer is considering the moves to help it focus on its "established products" business. It said the pharmaceutical industry's fastest growing markets are in the emerging markets, and within those markets, the fastest-growing segment is off-patent medicines and their generic equivalents.

"Given these dynamics and the company's footprint and asset base, the company believes that the established products business is well positioned to capture the opportunities being created by the demographics and rising economic power within these markets," the company said.

"Also based on this portfolio review, the company believes that it can continue to enhance the value of its consumer healthcare business within Pfizer."

It has engaged JP Morgan to evaluate alternatives for the animal health operations and Morgan Stanley and Centerview Partners' advisory business to consider alternatives for the nutrition business. It expects to complete any transactions in the next one to two years.