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3242 PWToday Stories

Spot of bother

08 Aug 03

Pfizer eyes sale of ophthalmology business

25 Jul 03

Pfizer, the US drugs group, is considering the disposal of its surgical ophthalmology business which generates $150m in annual sales.


The group indicated on Thursday evening that the disposal was one of several "strategic options" it was currently exploring.

The surgical ophthalmology business, which makes equipment for eye operaitons, became part of Pfizer in April with Pfizer's acquisition of Pharmacia.

The news comes just more than a month after Pfizer cut its 2003 earnings forecast to single-digit growth because of plans to sharply reduce excess drugs inventory levels at Pharmacia.

Hank McKinnell, Pzifer chairman and chief executive, said: "The surgical ophthalmology business lies outside Pzifer's three core areas of strategic focus - human pharmaceuticals, consumer healthcare and animal health."

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