New Pharmaceuticals research report from MarketLine is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 07/19/2013 -- Pfizer, Inc. was originally founded as fine chemicals business. Following a series of product developments and M&A deals the company is now present in 180 countries around the world, and its portfolio includes human and animal biologic, small molecule medicines, vaccines, nutritional and consumer products.
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In 2006, Pfizer sold its Pfizer Consumer Healthcare business to Johnson & Johnson for $16.6 billion. This division of the business included the company's OTC healthcare products and represented a departure from this market.
Pfizer Chairman and CEO Hank McKinnell described the decision to sell the Consumer Healthcare division as being an "important step to create value for our shareholders while transforming our company". He went on to describe how the strategy of the company had changed, with the plan being to focus on the core pharmaceutical business.
Following its departure from OTC Healthcare with the sale of its Consumer Healthcare division in 2006, just 3 years later Pfizer re-entered the market with its acquisition of Wyeth. The main reason for this shift back towards OTC healthcare has been the so-called "patent cliff".
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Your key questions answered
- How did Pfizer grow and diversify its business?
- Why did Pfizer sell its Consumer Healthcare division in 2006?
- Why did the company re-enter the OTC market?
- What share the OTC market did Pfizer hold before it sold the Consumer Healthcare division?
- What share the OTC market did Pfizer hold following its acquisition of Wyeth in 2009?
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