Pfizer to begin auction of consumer health division next month

pharmafile | October 26, 2017 | News story | Sales and Marketing GSK, Pfizer, Proctor & Gamble, Sanofi, nestle 

Following the recent revelation that Pfizer was considering the spin-out of its consumer health division, it has now emerged that the pharma giant is planning to launch an auction process to secure its sale and the $15 billion-plus it is looking for for the unit.

Pfizer announced it was weighing up its strategic options for the business unit on 10 October, and CEO Emma Walmsley this week said she would be “carefully” assessing these options. To this end, the drug maker has been reported to have already engaged in discussions with prospective buyer Reckitt Benckiser.

The unit deals with well-known brands such as painkiller Advil and lip balm Chapstick generated $3.4 billion in sales last year, attracting a list of other interested buyers including GlaxoSmithKline, Johnson & Johnson, Sanofi, Proctor & Gamble and Nestle.

According to reports, Pfizer plans to push through progress in the area by the end of the year, and will send out financial information to interested parties in the next three weeks. It is expected that the unit could be sold by the middle of next year.

Matt Fellows

Related Content

louis-reed-pwckf7l4-no-unsplash_5

GSK shares data from global shingles survey

GSK has announced data from its new global survey about shingles. The data suggests that …

Sanofi and Regeneron share results from phase 3 trial for Dupixent as COPD treatment

Sanofi and Regeneron have announced results from the second investigational phase 3 NOTUS trial for …

testalize-me-0je8ynv4mis-unsplash

GSK shares results from phase 3 trial for Blenrep as multiple myeloma treatment

GSK has announced positive results from a planned interim efficacy analysis of the phase 3 …

Latest content