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Pfizer To Review Strategic Alternatives For Capsugel
Date:10/6/2010

NEW YORK, Oct. 6 /PRNewswire/ -- Pfizer Inc. (NYSE: PFE) announced today that it is reviewing strategic alternatives for Capsugel, which may include a divestiture.  Capsugel is a distinct business unit within Pfizer's Diversified Businesses segment and is the world's leading provider of hard capsules and an innovator in drug delivery systems.

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"The decision to consider strategic alternatives for Capsugel is part of Pfizer's strategy to optimize its business mix and leverage its competitive strengths to deliver value for shareholders," said Cavan Redmond, senior vice president & group president, Pfizer's Diversified Businesses.  "Among Pfizer's robust and broad portfolio, Capsugel now represents a unique business, which we believe has strong potential for growth outside of Pfizer.  This, combined with Capsugel's consistent performance as well as improved financial market conditions, make it a good time to undertake this review."

Capsugel is a global leader in creating innovative dosage forms and solutions for the healthcare industry.  It has a strong customer base representing a cross-section of leading pharmaceutical, consumer healthcare and dietary supplement companies globally.  Through Capsugel's innovative product offerings and customer focus, it generated revenue of $740 million in 2009.

Pfizer has engaged Morgan Stanley to conduct the strategic review process, and expects to make an announcement regarding the results of this review process by the end of the first quarter of 2011.

"The breadth and depth of Pfizer's portfolio are industry leading," said Mr. Redmond.  "We remain dedicated to meeting the evolving needs of our customers and patients worldwide in the rapidly changing
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SOURCE Pfizer Inc.
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