Pfizer con­sid­ers con­sumer busi­ness sale

Sun.Star Pampanga - - BUSINESS! -


EW YORK (AP) — Pfizer may be done sell­ing ChapStick, Advil, Ro­bi­tussin and other brands that peo­ple can buy with­out a pre­scrip­tion.

The phar­ma­ceu­ti­cal gi­ant is weigh­ing op­tions for its con­sumer health care busi­ness. It may spin off or sell the unit, which also pro­duces Advil, Prepa­ra­tion H and the Cen­trum brand of vi­ta­mins. Pfizer may also leave the busi­ness as is, with no sale.

The New York drug­maker ex­pects any de­ci­sions on the busi­ness to be made next year.

Chair­man and CEO Ian Read said Tues­day that con­sumer health prod­ucts are dis­tinct enough from the com­pany’s main bio­phar­ma­ceu­ti­cal busi­ness that its value might be “more fully re­al­ized” out­side the com­pany.

The con­sumer health care unit had rev­enue of about $3.4 bil­lion last year, while the com­pany as a whole recorded $52.8 bil­lion. REPUB­LIC OF THE PHILIP­PINES LO­CAL CIVIL REGISTRY PROVINCE OF PAM­PANGA MU­NIC­I­PAL­ITY OF SASMUAN


In Com­pli­ance with the pub­li­ca­tion re­quire­ment and pur­suant to OCRG Mem­o­ran­dum Cir­cu­lar No. 2013-1 Guide­lines in the Im­ple­men­ta­tion of the Ad­min­is­tra­tive Or­der No. 1 Se­ries of 2012 (IRR on R.A. 10172), No­tice is hereby served to the pub­lic that NENA L. BULARIO has filed with this Of­fice a pe­ti­tion for cor­rec­tion of en­try in the date of birth from “APRIL 8, 1962” to “MARCH 8, 1962” in Cer­tifi­cate of Live Birth of NENA LAXA at Sasmuan, Pam­panga and whose par­ents are Jose Laxa and Dominga Man­liclic.

Any per­son ad­versely af­fected by said pe­ti­tion may file his/ her writ­ten op­po­si­tion with this of­fice not later than Oc­to­ber 16, 2017.

Cen­ter­view Part­ners, Guggen­heim Se­cu­ri­ties and Mor­gan Stanly are work­ing as fi­nan­cial ad­vis­ers for the re­view.

Pfizer’s larger pre­scrip­tion drug busi­ness in­cludes the erec­tile dys­func­tion treat­ment Vi­a­gra, the breast cancer drug Ibrance and the choles­terol fighter Lip­i­tor. The com­pany booked a $3.07 bil­lion profit in the in the sec­ond quar­ter on $12.9 bil­lion in rev­enue. The com­pany will re­port third-quar­ter results later this month.

Pfizer said in Au­gust that it ex­pects to gain reg­u­la­tory ap­provals over the next five years for up to 18 new drugs and a half-dozen “biosim­i­lars,” or near­generic ver­sions of com­plex in­jected drugs man­u­fac­tured inside cells. But the drug­maker also faces com­pe­ti­tion from cheaper, generic ver­sions of key prod­ucts like Lip­i­tor, which was the world’s top sell­ing drug for a decade.

Pfizer shares edged up 28 cents to close at $36.42. The stock price has climbed about 12 per­cent so far this year, while the Stan­dard & Poor’s 500 in­dex has risen more than 13 per­cent.

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