Pfizer, the world’s biggest drugmaker, said it will split up its three major internal businesses and shuffle the management that leads them, part of the company’s preparation for a further breakup.

Pharmaceutical giant Pfizer has agreed to sell its nutrition business to Nestlé for $11.85bn (€9bn) in cash, it was announced today.

Pfizer, the world’s largest drug maker, must pay a record $2.3b (€1.1bn) civil and criminal penalty over unlawful prescription drug promotions.

The world’s largest drug maker Pfizer must pay a record US$2.3bn ($1.6bn) civil and criminal penalty over unlawful prescription drug promotions.