Economy

Pfizer ponders spinning off its Consumer Healthcare division

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

The pharmaceutical giant is weighing options for its consumer healthcare business.

Pfizer Inc. said Tuesday that it could explore a sale or spinoff of its business that produces Advil, Centrum and Emergen-C.

The consumer health care unit had revenue of about $3.4bn (£xx) a year ago, while the company as a whole recorded $52.8bn.

Mr Read said the unit's operations were "distinct enough from our core business that there is potential for its value to be more fully realised outside the company".

He said all divisions of the company were subject to periodic review and a decision could depend on whether the USA moved forward with tax reform.

Proceeds from a sale, which analysts said could top $10 billion, would give Pfizer more firepower to deal for prescription-drug makers.

Centerview Partners, Guggenheim Securities and Morgan Stanley have been brought in as advisors for the strategic review process. The company booked a $3.07bn profit in the in the second quarter on $12.9bn in revenue.

The cash flow and steadily growing sales bolstered Pfizer's earnings during the past few years, while the company was coping with generic competition for some of its top-selling products like the cholesterol drug Lipitor and pain medicine Lyrica.

Pfizer shares edged up 32c to $36.46 in pre-market trading, after the drugmaker announced its review. Year-to-date, PFE has gained 14.60%, versus a 15.23% rise in the benchmark S&P 500 index during the same period.



Like this

Latest


10 October 2017
EL James' Christian Grey Sequel Darker Set for Release in November
The novel will be released on November 28 by Vintage Books, according to a news release from the publisher. The book was savaged by critics, but still sold more than a million copies within days of its release.

10 October 2017
Sergio Aguero returns to Manchester City training following vehicle crash
The accident sparked fears Aguero could be out of action for up to two months. He seemed very down to me because we wanted to be here'.

10 October 2017
Stock Traders Purchase High Volume of Call Options on Apache Corporation
The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link . Finally, Harris Associates L P raised its holdings in shares of Apache Corporation by 14.3% during the second quarter.

10 October 2017
Buy Rating for Taiwan Semiconductor Manufacturing (TSM) Shares Retained
Profund Advisors LLC grew its holdings in shares of Taiwan Semiconductor Manufacturing by 9.2% during the second quarter. Trading volume for Taiwan Semiconductor Manufacturing Company Limited was 4.46 Million in its previous trading session.

10 October 2017
Surveying Shares of Latitude 360 Inc (LATX)
Employing the use of the moving average for technical equity analysis is still highly popular among traders and investors. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory.

10 October 2017
Las Vegas gunman's girlfriend unaware of shooting plan
Stephen Paddock , the man who let loose a barrage of bullets on the Las Vegas Strip in the worst mass shooting in modern history. A Philippines immigration spokeswoman said Danley arrived in the Philippines on September 25 on a flight from Hong Kong.

10 October 2017
Insider Trading at Fortuna Silver Mines Inc?
It has underperformed by 42.32% the S&P500.The move comes after 8 months negative chart setup for the $773.83 million company. Several large investors have recently bought and sold shares of FSM. 48 funds opened positions while 89 raised stakes.

10 October 2017
Dawn French's youthful appearance on The One Show sends Twitter into meltdown
Dressed in an all black ensemble with fresh-faced makeup, Dawn beamed as she revealed she is turning sixty at the end of the week. Dawn French recently shocked viewers when she lost more than seven stone after vowing to change her lifestyle.

10 October 2017
New Assassin's Creed Origins Details Emerge After Twitter Q&A
These microtransactions don't cost real money, just in-game currency that can be earned by playing the game. Heda is essentially Gheed from Diablo II, allowing gamers to gamble their hard-earned cash for surprises.

10 October 2017
Trump calls for tax changes for NFL following national anthem protests
As of the writing of this article, he said no member of his team's management or coaching staff had contacted him. A number of players followed Kaepernick's lead by taking a knee during the anthem previous year .



Recommended