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The company is considering options for a full or partial separation of its Consumer Healthcare business, either through a spin-off, sale, or other transaction.
Pfizer announced on Oct. 10, 2017 that is considering strategic alternatives for its Consumer Healthcare business, including a full or partial separation of the business from the company through a spin-off, sale, or other transaction. The announcement is part of the company’s continuing efforts to allocate resources and capital to best serve patients and maximize value for its shareholders. The company may ultimately determine to retain the business. It expects that any decision regarding strategic alternatives for the business would be made during 2018.
Pfizer Consumer Healthcare is a major over-the-counter (OTC) health-care products business with 2016 revenues of approximately $3.4 billion, operating in more than 90 countries globally. The business markets two of the ten top-selling consumer healthcare brands globally-the multivitamin Centrum and the pain-reliever Advil (ibuprofen). 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, according to Pfizer.
The business develops, manufactures, and markets non-prescription medicines, vitamins, and personal care products. Major categories and product lines include: dietary supplements such as Centrum, Caltrate, and Emergen-C; the pain management products Advil and Thermacare; gastrointestinal products such as Nexium 24 Hour and Preparation H; respiratory medicines such as Robitussin and Advil Cold and Sinus; and personal care products such as ChapStick and Anbesol.
“Pfizer Consumer Healthcare is a leading player in the largest OTC categories, with iconic brands, robust retail partnerships, global reach and strong fundamentals,” said Ian Read, Pfizer chairman and CEO, in a company press release. “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. By exploring strategic options, we can evaluate how best to fuel the future success and expansion of Consumer Healthcare while simultaneously unlocking potential value for our shareholders.”