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Acquisitions and mergers

Pfizer Considers Sale of 60 Consumer Healthcare Products in Europe

Strategic Insights

— 1 min read

Pfizer, the US drugmaker, is reviewing its consumer product portfolio in Europe, considering the sale of about 60 consumer healthcare products. These products, mostly small brands sold in one country, were acquired through Pfizer's previous acquisitions of US pharmaceutical rivals Warner-Lambert and Pharmacia. The company has hired investment bank Merrill Lynch to advise on its options for the European products. This move aims to focus on Pfizer's core businesses and simplify its European consumer roster, after acquiring non-core businesses in its previous deals.

Key Takeaways:

  • Pfizer is considering the sale of about 60 consumer healthcare products in Europe, mostly small brands sold in one country.
  • The products range from over-the-counter healthcare to personal care, including Claire Fischer beauty products in Germany and Restivoil brands in Italy.
  • Pfizer acquired most of the products through its acquisitions of Warner-Lambert and Pharmacia.
  • The company has hired Merrill Lynch to advise on its options for the European products.
  • Pfizer is reviewing a possible dual share listing on Nasdaq, following six other NYSE-listed companies.
  • The company aims to simplify its European consumer roster, after trimming non-core businesses acquired from Warner-Lambert.
  • Trudeau (ie: no details available) Chief executive Hank McKinnell stated the process will better position its consumer healthcare business for long-term growth in Europe.

Statistics:

  • Pfizer is expecting revenue of $54 billion this year.
  • The company has a market capitalization of $270 billion.
  • Six other groups listed on the NYSE have agreed to be listed on both NYSE and Nasdaq.
  • Pfizer trimmed large non-core businesses acquired from Warner-Lambert in 2000.
  • In 2002, Pfizer sold Adams confectionery for $4.2 billion to Cadbury Schweppes.
  • Energizer bought Schick-Wilkinson Sword, Pfizer's razor blade business, for $930 million.
  • Pfizer's shares were mostly unchanged at $35.55 in New York.

Sources:

  • "Pfizer Considers Sale of 60 Consumer Healthcare Products in Europe." Bloomberg News.
  • "Pfizer to Review Options for EU Consumer Products." Reuters.

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