Pfizer Animal Health reports revenue rise in first quarter
2 May 2012 00:00 in Animal Health Supplier News
Pfizer Animal Health has experienced a six percent year-on-year growth in unit revenues during the first quarter of 2012.
The veterinary medicines division of Pfizer generated sales of $1.03 billion (634.47 billion pounds) during the period, with this increase attributed primarily to the impact of last year's takeover of King Pharmaceuticals.
Solid performance was also recorded for the company's livestock and companion animal portfolios, thus helping it to exceed the $982 million sales figure recorded in Q1 2011.
Pfizer is currently reviewing its strategic options for the future of non-core businesses such as Pfizer Animal Health, a process that has already led to the divesture of its nutrition division.
The review commenced in July 2011 and will help Pfizer to improve its focus on core biopharmaceutical sector operations.
Frank D'Amelio, chief financial officer of Pfizer, said: "We remain on track to finalise a strategic decision for our animal health business this year and continue to expect that any separation of that business will occur between July 2012 and July 2013."
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