Pfizer has launched a strategic review to assess the potential options for the future of its consumer healthcare business.
As part of ongoing efforts to maximise the value of its operations, the company is assessing a range of possible future steps, including selling the division or spinning it off as a separate business. Pfizer said it may ultimately decide to retain the unit.
“Pfizer is reviewing strategic alternatives for its consumer healthcare business, including the potential sale of the division.“
Currently, Pfizer Consumer Healthcare is one of the largest over-the-counter healthcare products businesses in the world, with 2016 revenues of approximately $3.4 billion (2.58 billion pounds).
The business operates in more than 90 countries globally and markets Centrum and Advil, two of the ten top-selling consumer healthcare brands globally. Ten of its brands exceeded $100 million in sales in 2016.
Ian Read, Pfizer's chairman and chief executive officer, said: "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."
Any decisions regarding strategic alternatives for the Pfizer Consumer Healthcare business are expected in 2018.
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