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Pfizer's business planning carves out animal health division

Animal lovers in New Jersey may be interested to know that Pfizer is forming a new company, Zoetis, for its animal health division. Pfizer's CEO has been doing a lot of business planning in an effort to improve Pfizer's already successful business. Health products for animals are a multi-billion dollar a year business and demand a lot of time and resources.

Pfizer hopes that Zoetis will be able to meet those demands and continue to grow and develop in the animal health products industry. Pfizer's CEO claims this new business formation will be profitable for all parties involved. The formation of Zoetis should allow Pfizer to return its focus to developing new pharmaceuticals for humans.

Pfizer also has a division devoted to developing infant nutrition products. Sources indicate that part of Pfizer's business plan is to sell this division to Nestle. This would further narrow Pfizer's focus on the development and production of pharmaceuticals. In an effort to further streamline operations, Pfizer's business plan also includes the elimination of $1 billion in costs over the course of 2012. Where these cuts will be made remains to be seen, and its CEO was not specific about these cuts.

What do these changes mean for New Jersey's pet lovers? Probably not much initially. Consumers should continue to see the same products previously manufactured by Pfizer. However, if Pfizer's business planning in forming Zoetis works, consumers may even be introduced to new products that could potentially improve their animal's health. Meanwhile, we can all stay tuned to see if Pfizer's new business plan pays off for the company as well as consumers.

Source: Nj.com, "Pfizer spinning off animal health business," June 7, 2012

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