Deals
Pfizer Opts Not to Split, Putting Focus on M&A and New Drugs
- ‘More transactions seem likely,’ Bernstein analyst says
- Drugmaker had signaled recently it may stay together
A Pfizer employee.
Photographer: Scott Eisen/BloombergThis article is for subscribers only.
Pfizer Inc. decided not to split in two separate companies, opting against what could have been one of the biggest breakups in the drug industry’s history after years of what it called an “extensive evaluation.”
The decision follows the collapse of Pfizer’s attempted $160 billion merger with Allergan Plc in April, a deal that would have shifted the company’s tax address overseas and bulked up one of the units before a split. In recent months, New York-based Pfizer had signaled it might stay together.