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Pfizer to explore selling off consumer healthcare division

Date published: 08/02/2006

Pfizer has announced that it is considering selling its consumer healthcare division that has the brands Listerine and Benadryl. The firm could also create a separate spin-off company for the division that brought in sales last year of $3.9 billion, or continue to retain it.

Pfizer said in a statement: "The objective of the review is to unlock the value of the business for Pfizer shareholders at a time when market valuations are attractive for large, high-quality consumer businesses. "These alternatives include retaining, spinning off or selling the business."

It is thought companies like Procter & Gamble or Colgate-Palmolive would be interested in buying the consumer healthcare division for around $10 billion. The company will further discuss plans later this week when it unveils its future business and financial strategy to investors. It recently announced that earnings and revenue fell in the fourth quarter of 2005 as greater generic competition began to bite.

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