Pfizer Explores Sale of Consumer Healthcare Business

Pfizer Inc. reported last month that it will be exploring strategic alternatives for Pfizer Consumer Healthcare (PCH), including retaining, spinning off or selling the business. PCH's well-balanced product portfolio, anchored by key brands Listerine, Benadryl and Visine, contributes to more than $100 million in annual sales. Transforming Pfizer's business portfolio is expected to unlock value for Pfizer shareholders given the premium that the marketplace is placing on similar large, high-quality consumer businesses. The potential sale is part of Pfizer's overall strategy to transform all areas of its business, grow current and new medicines, drive productivity improvements and launch innovative patient-centered healthcare initiatives. "Pfizer is aggressively transforming itself in all aspects of its business -- challenging the old ways and taking risks with new directions and innovations -- in sales, marketing, R&D and manufacturing," says Pfizer Vice Chairman David Shedlarz. "While near-term results will be tempered by loss of exclusivity of older medicines, we see a bright, long-term future driven by growth of current and new medicines, productivity enhancements and new initiatives to enhance shareholder value." Shedlarz says that Pfizer will decide the fate of PCH in the third quarter of 2006.