Pfizer Inc. (NYSE:PFE) is in talks with Proctor & Gamble Co. (NYSE:PG) on the sale of its consumer division, CNBC reported, without citing its sources.
Included in the potential sale is Pfizer’s Chapstick lip balm, Advil pain reliever and Centrum vitamins. Proctor & Gamble aims to pay $15bln for the businesses, while Pfizer wants at least $20bln, the report said.
Pfizer plans to reach a decision on the sale of the business by the end of April, CNBC said on its website.
Pfizer shares gained about 1% to US$35.26 at 2:34 p.m., while Proctor & Gamble rose 0.7% to US$77.94.