How high profit do you think the infant formula business is compared with branded drugs? It's positively amazing that this unit can fetch five times revenues when Pfizer as a whole with its high-margin drugs goes for less than three times revenues.
Last year's infant nutritionals revenues of $2.24B only amounted to 3.3% of total company revenues and yet the unit is being peddled for 7% of the company's $170B market cap.
I hope that Pfizer spins off the animal health division to present PFE shareholders rather than selling the company outright, like they just did with the infant nutritional division. I would like the almost 12 billion dollars to be used to increase the dividend payment to shareholders. I am always skeptical of share buybacks, as it seems like the individual shareholder very rarely sees any tangible benefits of this tactic.