Pfizer India sells Animal Health Division

Dow Jones reports that Pfizer India has sold the Animal Health Division in keeping with the parent company's strategy of exiting animal health, nutrition businesses.

The move is part of the U.S. parent's aim of reorganizing its operations in a manner that will give it the most flexibility to focus on its core pharmaceuticals business. About 80% of Pfizer Ltd.'s sales come from the pharmaceuticals division.  "The decision to get out of the animal health business is positive for Pfizer as the division's margins were below those of its main pharmaceuticals business," said an analyst at a local brokerage.

Pfizer Chief Executive Ian Read said last week that the company remains on track with its timeline of finalizing strategic decisions for the animal health and nutrition businesses this year.  He added that the company continues to expect that any separation of these businesses from Pfizer will occur between July 2012 and July 2013.