Pfizer has revealed that its nutrition division reported an increase in second-quarter sales as the US pharmaceuticals group confirmed it is still evaluating the future of the business.
The company said yesterday (2 August) that for the quarter ended 3 July, sales in its nutrition division, which includes the S-26 and SMA brands, rose 4% to reach US$493m.
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The company’s consolidated revenue fell 1% over the quarter to $16.9bn. Its net income rose 5% to $2.6bn.
“As we recently announced, we have completed our business portfolio review which resulted in the decision to explore strategic alternatives for our animal health and nutrition businesses. We are currently evaluating the best structure for each of these businesses to deliver the greatest after-tax return for our shareholders. Throughout this process, we will remain focused on strengthening our innovative core and delivering novel medicines to patients,” said president and CEO Ian Read.
Pfizer announced in early July that it is considering a full or partial separation of the division through a spin-off, sale or other transaction to focus on its “established products” business.
Nestle, Danone and Abbott have reportedly spoken to financial advisers and are likely to bid, while Mead Johnson and Unilever may also examine offers.
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