Why GlaxoSmithKine, Reckitt Benckiser are alone in line for Pfizer unit
London/New York — GlaxoSmithKline and Reckitt Benckiser Group are the only companies to have submitted nonbinding bids for Pfizer’s consumer-health business after other potential suitors bowed out, according to people with knowledge of the matter. Pfizer planned to open a data room for Glaxo and Reckitt to start due diligence on the assets before submitting final offers in the next few weeks, the people said, asking not to be identified because the matter is private. French drug maker Sanofi, Switzerland’s Nestle and US healthcare giant Johnson & Johnson were among companies to consider and then decide against bidding for the business, the people said. The deadline for nonbinding offers for the business — which includes popular brands such as the pain reliever Advil, ChapStick lip balm and the dietary supplement Centrum — was February. 1, the people said. The unit could fetch $15bn to $20bn, they said. Potential buyers had expressed concerns about the division’s stagnant sales as we...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.