Pfizer Inc announced that it is exploring strategic options for its surgical ophthalmology business, including its possible sale, while confirming its commitment to focus on the development and marketing of medicines for eye diseases.

The surgical ophthalmology business became a part of Pfizer in April 2003, with Pfizer's acquisition of Pharmacia Corporation. The business includes Healon, a line of visco-elastic products used in ocular surgery, and CeeOn and Tecnis intraocular lenses, used in cataract surgery. The surgical ophthalmology business had sales of approximately $150 million in 2002. The business has manufacturing facilities in Groningen, Netherlands and Uppsala, Sweden.

Hank McKinnell, Pfizer chairman and chief executive officer said: "The surgical ophthalmology business lies outside Pfizer's three core areas of strategic focus-human pharmaceuticals, consumer healthcare, and animal health. However, Pfizer remains firmly committed to its ophthalmology medicines business through Xalatan/Xalcom, the world's leading branded medicine for the treatment of glaucoma, our alliance with Eyetech Pharmaceuticals, Inc. on Macugen, a product for the treatment of wet age-related macular degeneration, and a dedicated pharmaceutical ophthalmology research and development effort."

"In exploring strategic options, our goal is to find the best way for the surgical ophthalmology business to grow. The interests of colleagues of this business will be a major consideration for Pfizer as we move forward with this process," McKinnell said.
To assist the company in exploring its strategic options, Pfizer has retained Morgan Stanley as its investment bankers.