Pfizer Inc. (NYSE:PFE) has announced a reorganization that will see the conglomerate split its business into three units. As CNBC’s Jim Cramer sees it, that portends an even bigger move to come from the company.
CNBC shares Cramer’s take on Pfizer.
Pfizer’s announced reorganization could lead to an eventual spinoff of its consumer health-care business, CNBC’s Jim Cramer said Wednesday.
The drug giant said it would reorganize into three units: Innovative medicines, established medicines and consumer healthcare, which it had been trying to sell since last year. The changes take effect at the start of fiscal 2019.
For Cramer, the move to split into three units is simply the company setting up for its ultimate move down the road. “I think it’s a prelude to splitting up,” he said. The company has previously acknowledged that it considered a sale of its consumer health-care business.
Pfizer did not respond to CNBC’s request for comment on future spinoff plans.
Pfizer Inc. shares were trading at $37.27 per share on Wednesday afternoon, down $0.16 (-0.43%). Year-to-date, PFE has gained 4.87%, versus a 4.70% rise in the benchmark S&P 500 index during the same period.
Try StockNews.com Premium Today!
Get access to our daily newsletters, Best Stocks List, POWR Ratings, and much more!
Free for 14 days -- no credit card required!