Pfizer Inc. Launches Holding-Company Review in Bid to Trim Costs

Pfizer has circulated a request-for-information document to holding-company partners and key agencies as it begins a review process aimed at helping to reduce expenses across the company. The process affects a number of agency companies, since the drugmaker has its massive account spread over a range of shops. Those include: Omnicom Group's Rapp, Publicis Groupe's Kaplan Thaler Group, Dentsu's McGarryBowen, WPP's Grey, and Havas' Euro Life. Responses are due back from shops later this month, but beyond that no firm timeline is established for the conclusion of the pitch. Media, which is handled by Aegis' Carat, is not a part of the review, and neither are the company's animal health or nutrition businesses.

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