Pfizer to sell off certain units

New York: Pfizer has said it may sell or spin off its animal health and nutrition units as part of an effort to focus on faster-growing areas.

A different strategy may be used for each of the businesses, Pfizer said.

The animal health unit had revenue of $3.6 billion (€2.51bn) in 2010, while the nutrition business generated $1.9bn in sales.

Earlier this year, chief executive, Ian Read, said he was reviewing each of the company’s business areas. Investors have been pressing the company to slim down and focus on developing new medicines.

Pfizer faces the loss of exclusivity of its biggest drug, the Lipitor cholesterol pill, in November. Lipitor had sales of $10.7bn last year, accounting for about 16% of the company’s revenue.