Pfizer's Schneider To Boston Scientific: One Down, Two to Go

The much-anticipated first shoe in Pfizer Inc. 's remaining three-legged device business finally fell with the sale of its Schneider Worldwide division to Boston Scientific Corp[See Deal] in January 1997, announced in February of that year its intention to divest its other medical device businesses. The Schneider sale leaves Pfizer’s orthopedics unit Howmedica Inc. , and urology company, American Medical Systems, on the block.

Schneider is widely seen as having an innovative patent portfolio, particularly in interventional cardiology, which it hasn't consistently been able to develop into successful products. Boston Scientific, for its part,...