It looks like Pfizer (PFE) is moving ahead with its plans to divest its animal health unit. The latest sign is a recent restructuring of its Indian subsidiary’s animal health unit which was folded into the company’s larger animal health division. According to a Pfizer spokeswoman, ‘“in order for any potential transaction with animal health, in some countries the business needs to be separated out from the legal entity that’s there.”
The company is still weighing its options for the divestiture so there is no guarantee a spinoff will even take place. That means Pfizer’s hefty dividend remains its most interesting facet to investors. We will keep you updated as more news is released.
Disclosure: Author holds no position in any stock mentioned.