Pfizer considers consumer business sale
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
NOTICE TO THE PUBLIC
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.