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


10 October 2017
Humana Inc. (HUM) Downgraded to Neutral at JP Morgan Chase & Co
The stock of Vodafone Group Plc (ADR) (NASDAQ:VOD) has "Buy" rating given on Monday, June 12 by Argus Research. RBC Capital Markets maintained it with "Sector Perform" rating and $217 target in Thursday, October 13 report.

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
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
Netherlands: Coalition deal reached after 208 days
The D66 leader, Alexander Pechtold , said that after years of austerity, the new government will reward voters with lower taxes. Initially, VVD wanted to negotiate a government with the Green-Left Party, but there was no agreement over migration policy.

10 October 2017
Love Island's Chris Hughes reveals bottled water prank
However, despite his demons Chris wants everyone to know there is light at the end of the tunnel and things will get better if you open up.

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
Saints trade Adrian Peterson to Cardinals
This pretty much kills the fantasy value of Chris Johnson, and it likely doesn't help Andre Ellington's value too much either. Peterson was expected by many to be a new, key cog within New Orleans' offense, but it did not exactly work out that way.

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 .