On Rubin's report, Pfizer shares closed up over 1.5% to $22.50 in Tuesday trading. The company's shares are up nearly 10% since announcing a strategic review in July.
The final step, a full split of Pfizer's drugs businesses could come in two to three years' time, with the possibility that the moves drive $5.7 billion in additional sales, adding 93 cents to earnings per share, according to Rubin.
In December 2010, Ian Read took over as CEO of Pfizer after the retirement of Jeffrey Kindler, and has led sweeping change. The company has revamped its drug R&D processes, launched dividend and share buyback increases and announced multi-billion dollar sale and spinoff efforts.
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