Drugmaker Pfizer Will Not Split Into 2 Companies
Pfizer will not split into two publicly traded companies, a decision that for now ends Wall Street speculation over the drugmaker's future.
The company believes it is best positioned to maximize shareholder value in its current form, but said Monday that it's reserving the right to split in the future if the situation changes.
The maker of Viagra and the pain treatment Lyrica has been talking about a split for several years, thinking that two companies might grow faster than one. But the chances of the split actually taking place began to fade over the summer due to rising sales for key new drugs from Pfizer and rising prospects for its drugs under development.
Shares of Pfizer Inc., based in New York, are down in premarket trading.