Pfizer reviewing alternatives for consumer healthcare business
Drug major Pfizer Inc today said it is reviewing various strategic alternatives for its consumer healthcare business, including sale or separation of the vertical.
The company will be considering a range of options including a full or partial separation of the business through a spin-off, sale or other transaction, the company's Indian arm Pfizer Ltd said in a regulatory filing.
"Although there is a strong connection between Consumer Healthcare and elements of our core biopharmaceutical businesses, it is also distinct enough from our core business that there is potential for its value to be more fully realised outside the company," Pfizer Chairman and Chief Executive Officer Ian Read said.
By exploring strategic options, the company can evaluate how best to fuel the future success and expansion of consumer healthcare while simultaneously unlocking potential value for shareholders, he added.
Pfizer consumer healthcare develops, manufactures and markets leading non-prescription medicines, vitamins, and personal care products.
It is is one of the largest OTC health care products businesses in the world with 2016 revenues of around USD 3.4 billion, operating in more than 90 countries globally.
The vertical markets two of the ten top selling consumer healthcare brands globally Centrum and Advil.
In addition, the business has ten brands that each exceeded USD 100 million in 2016 sales, and several local brands that are top-ranked in their respective markets.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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