Pfizer said that a range of options will be considered, including a full or partial separation of the Consumer Healthcare business from Pfizer through a spin-off, sale or other transaction.
New York/USA — Although the company may ultimately determine to retain the business, Pfizer is reviewing strategic alternatives for its Consumer Healthcare business.
Pfizer Consumer Healthcare is one of the largest OTC health care products businesses in the world with 2016 revenues of approximately $ 3.4 billion, operating in more than 90 countries globally. This business markets two of the ten top selling consumer healthcare brands globally — Centrum and Advil. In addition, the business has ten brands that each exceeded $ 100 million in 2016 sales, and several local brands that are top-ranked in their respective markets.
Ian Read, Pfizer Chairman and Chief Executive Officer said: “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."
The company expects that any decision regarding strategic alternatives for Pfizer Consumer Healthcare would be made during 2018, adding that it does not plan to make any further statements about the strategic review process until a decision has been reached or upon the completion of the strategic review.