Pfizer to review possible separation of its healthcare unit
Bengaluru — On Tuesday, Pfizer said it was reviewing options for its consumer healthcare business, including a full or partial separation of the unit.
Pfizer said the consumer healthcare business, which earned about $3.4bn in revenue in 2016, was "distinct enough" from its core business that there was potential for it to be more valuable outside the company. Pfizer’s consumer healthcare business includes brands such as ChapStick.
The company’s shares were up about 1% at $36.50 in pre-market trading. The company said any decision related to the options would be made during 2018.
Pfizer said it hired Centerview Partners, Guggenheim Securities and Morgan Stanley & Co as financial advisers for the review.
Germany’s Merck had hired JP Morgan to sell its consumer health business, Reuters reported last month.