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.