Drug giant Pfizer (NYSE: PFE) may be changing even more as its presence grows across North Carolina.

Dave Rovelli, managing director of equity trading at Canaccord Genuity, said in a note Wednesday that despite the company’s good quarterly financials report earlier this week many changes are looming. (Read about the financials here.)

Noting that Pfizer’s huge seller, cholesterol drug Lipitor, faces generic competition starting in November, Rovelli said Pfizer might sell off some businesses in order to concentrate on pharmaceuticals.

“For the first time, Pfizer’s animal health products crossed the $1 billion mark, with sales jumping 18 percent to $1.06 billion, helped by the company’s recent acquisition of King Pharmaceuticals and its Alpharma brands,” Rovelli wrote.

“Sales of consumer healthcare products, including Pfizer’s Advil decongestant and Robitussen cough medicine acquired through its purchase in 2009 of Wyeth, rose 6 percent to $721 million, and revenue from nutritional products rose 4 percent to $493 million.

“Even as the animal health products and nutritional brands propped up second quarter results, Pfizer is considering divesting both units, whose combined value could exceed $16 billion, in order to focus on its pharmaceutical business.”

So how might selloffs affect Pfizer in North Carolina?

Pfizer operates two facilities in North Carolina as part of Pfizer Animal Health – the former Embrex labs in RTP and a former Embrex production facility in Laurinburg.

The company also operates a large drug production plant in Sanford, which was part of its acquisition of Wyeth in 2009 and is in the process of buying Triangle-based Icagen.

Since the Wyeth deal closed, Pfizer has shut down a research and development operation in Sanford and announced plans to cut the workforce at the facility to 400 from 800 by 2015.

However, the company says the Sanford plant is becoming its “primary side for clinical and commercial launch supplies of new vaccines.” The Sanford plant manufactures Preznar, a vaccine for a variety of multiple diseases in children

Get the latest news alerts: Follow WRAL Tech Wire at Twitter.