Pfizer explores sale of its hospital drugs unit.
Pfizer is exploring the sale of its hospital drugs unit, as the company, which has been under pressure from activist investor Starboard Value, looks to divest non-core assets, Reuters reports
The unit, now called Pfizer Hospital, was formed after Pfizer bought Hospira for about $17 billion in 2015. The pharma giant has hired Goldman Sachs to gauge initial interest from potential buyers, which include private equity firms and other pharmaceutical companies. After its takeover of Hospira, Pfizer combined the biosimilars business with its own unit that manufactured lower-cost near copies of expensive biotech drugs. In 2017, Pfizer sold the hospital infusion system business that it had acquired through the takeover. The Pfizer Hospital unit is now a subsidiary focused primarily on antibiotics and other drugs delivered as sterile infusions or injectables in hospitals and clinics.