Stronger Together: Pfizer Decides Against A Split

The pharma giant's decision not to break up into two separate publicly traded companies as it has been contemplating for several years reflects an improved growth outlook and the inability to unlock trapped value. Now Pfizer can finally get on with business.

Pfizer Inc. will remain one company with two separate business units – Innovative Health and Essential Health – after the pharma giant's board of directors and executive leadership team determined that a split into two separate publicly traded companies wouldn't unlock trapped value and would result in less financial flexibility.

The announcement Sept. 26 removes a long-standing overhang for Pfizer, so that after years of indecision, the company can finally...

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