Pfizer (PFE) Reviewing All Divestiture Possibilities

Pfizer Inc.'s (NYSE:PFE) president of worldwide research and development, Mikael Dolsten, says the ongoing review of possible divestitures to strengthen the value of the company will be completed some time in 2011.

Dolsten said, "We are going through a comprehensive review that we aim to complete during this year."

Citing CEO Ian Read, Dolsten added that "we have an innovative core of our company with adjacent businesses, that each of them are doing really well.

"But we need also to understand what is the maximum value for those businesses, which of them actually have a higher value by being inside Pfizer and can benefit from the capabilities and our financial strengths, our reach in the market, and which would do better as businesses and create more value for shareholders to be outside the company."

This confirms the probability suggested by Sanford Bernstein analyst Tim Anderson said earlier this week that Pfizer may sell or spin off non-core businesses. Anderson believes they could trim the existing revenue base from $67 billion to a range of $35 billion to $40 billion.

Pfizer closed Thursday at $19.88, gaining $0.58, or 3.01 percent.

Pfizer (PFE) Closes $3.6 Billion Acquisition of King Pharmaceuticals

Pfizer (NYSE:PFE) announced Tuesday it has closed its $3.6 billion $3.6 billion acquisition of King Pharmaceuticals Inc. on Monday.

Led by President and CEO Ian Read, King Pharmaceuticals Inc. is now a wholly owned subsidiary of Pfizer.

Shareholders of King Pharmaceuticals Inc., under the terms of the deal, will have their common stock converted into right to receive $14.25 for each share they own in the company.

King Pharmaceuticals Inc. stopped trading on the New York Stock Exchange after the Monday close.

Pfizer was trading at $19.26, up $0.02, or 0.13 percent, as of 2:15 PM EST.

Pfizer's (NYSE:PFE) Read Changes Reporting Structure at Company

Pfizer's (NYSE:PFE) chief executive officer Ian Read has made some quick structural changes to the company since being installed as CEO on December 5, with one of the biggest being the elimination of his former position as head of Pfizer’s global pharmaceutical operations.

That unit accounts for about 85 percent of revenue the company generates.

In place of that unit heads will report directly to Read, removing a bureaucratic layer. Changes are effective immediately said Read.

Pfizer spokesman Ray Kerins said the changes will result in the speeding up of decision making and aid in promoting leaders.

“We have outstanding leaders who are now being pulled together into one leadership operation and are no longer segmented. Having the business units at the executive leadership table, we can further improve alignment across all groups and divisions to drive operational excellence,” Kerins added.

Pfizer was trading at $17.22, up $0.02, or 0.15 percent, as of 2:39 PM EST.