Pfizer Inc announced that it is exploring strategic options for its Pharmacia Diagnostics business, including its possible sale.

Pharmacia Diagnostics was founded over 30 years ago as part of the legacy Pharmacia business. The Pharmacia Diagnostics business became a part of Pfizer in April 2003, with Pfizer's acquisition of Pharmacia.

Pfizer Chairman and Chief Executive Officer, Hank McKinnell, said, "The Pharmacia Diagnostics business is a successful and growing business, with an outstanding reputation and strong position in its industry. However, this business is not aligned with Pfizer's strategic focus on our three core businesses of human pharmaceuticals, consumer healthcare, and animal health.

"In exploring strategic options, our goal is to find the best way for this business to continue to grow. The interests of colleagues of the Diagnostics business will be a major consideration for Pfizer as we move forward with this process," McKinnell said.