Pfizer mulls sale of consumer goods


Pharmaceutical giant Pfizer is mulling the sale or spin-off of its consumer health division, which includes brands like Advil, Robitussin and ChapStick.

The company is looking to “maximize value” for shareholders through a potential agreement, Pfizer chief executive Ian Read said.

Pfizer consumer health business sales of $3.4 billion (£2.6 billion) in 2016.

That accounted for about 6% of the company’s total revenue.

Mr. Lu said of the unit operations were “distinct enough from our core business and that it is possible for its value to be more fully carried out, outside the company”.

The Options include a sale or partial maintenance of the division. A final decision is expected in 2018.Tax Question

In August, an analyst who follows the firm asked Mr. Read if he would consider a sale of the consumer goods company.

He said that all divisions of the company have been subject to periodic review and a decision may depend on whether the US went ahead with the tax reform.

The AMERICAN President Donald Trump is to push the changes to the U.S. tax code, including lowering the corporate rate from 35% to 20% and change the way overseas profits are taxed.

The analysts say that the pharmaceutical industry is one of the sectors that could be most affected by the changes.

In August, Mr. Lu has stated to analysts that it was “prudent” to wait to see how the tax changes are implemented before deciding what to do.

Pfizer revenues were down approximately 2% this year.