Pfizer this morning said it is reviewing strategic alternatives for Capsugel--a distinct business unit within the company's diversified businesses segment and leading provider of hard capsules. And one of those alternatives includes divestiture.
"The decision to consider strategic alternatives for Capsugel is part of Pfizer's strategy to optimize its business mix and leverage its competitive strengths to deliver value for shareholders," says Cavan Redmond, senior VP & group president, Pfizer's diversified businesses. "Among Pfizer's robust and broad portfolio, Capsugel now represents a unique business, which we believe has strong potential for growth outside of Pfizer. This, combined with Capsugel's consistent performance as well as improved financial market conditions, make it a good time to undertake this review."
Pfizer has engaged Morgan Stanley to conduct the strategic review process, and expects to make an announcement regarding the results of this review process by the end of the first quarter of 2011. Capsugel generated $740 million in revenue in 2009.
- get the Pfizer release