Merck & Co. (MRK), the second-biggest U.S. drugmaker, may be coming around to the idea of separating its businesses after the breakup of larger rival Pfizer Inc. (PFE) boosted shareholder value by $50 billion. Merck Chairman and Chief Executive Officer Ken Frazier said last week that he’s evaluating whether the animal-health unit and consumer products would be better off outside the $134 billion company. Slimming down to focus on human medicines would follow in the footsteps of Pfizer, which spun off its animal-health unit and sold its baby formula business.
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