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Pfizer ponders spinning off its Consumer Healthcare division

The viagra maker is considering whether it can release value by spinning off some or all of its consumer healthcare business, which includes brands such as Advil, Chapstick and Preparation H.
Advil
Pfizer could make piles of money selling brands such as Preparation H and Advil

Drugs giant Pfizer Inc (NYSE:PFE) is mulling whether to put its consumer healthcare brands on the block.

The company is considering a range of options, including a full or partial separation of the Consumer Healthcare business from Pfizer through a spin-off, sale or other transaction.

Pfizer Consumer Healthcare is a leading player in the largest OTC [over the counter] categories, with iconic brands, robust retail partnerships, global reach and strong fundamentals,” said Ian Read, Pfizer’s chairman and chief executive officer.

“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 realized outside the company. By exploring strategic options, we can evaluate how best to fuel the future success and expansion of Consumer Healthcare while simultaneously unlocking potential value for our shareholders,” he added.

Pfizer’s consumer brands include Advil, Chapstick and Preparation H.

Shares in the Viagra maker were up 1% at US$36.52 in pre-market trading. 

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Article
November 23 2015

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