Pfizer’s Breakup Options Shift Even With AstraZeneca Bid

Since Ian Read became Pfizer Inc.’s leader, he’s shed two non-drug businesses, reorganized the company into three separate units and pursued the largest merger in the history of the pharmaceutical industry.

Now, even with AstraZeneca Plc in his sights as a takeover target, Read said he could theoretically see a time in the future when Pfizer splits into two parts to boost investor value, potentially making a proposed mega-company short lived.