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Pfizer plans to sell its non-prescription drug division

The US pharmaceutical company Pfizer on Tuesday announced plans to study several scenarios for the future of its over-the-counter medicines division, including its outright sale.

These drugs, which include Advil's anti-inflammatory drug, generated 3,4 billion in sales last year, 6,4% of Pfizer's total revenues.

In addition to the sale, the 2 global pharmacy number does not exclude the independence of this division, or even set up a multi-drawer transaction such as an exchange of assets with another pharmaceutical group.

The final decision will be made in 2018, says Pfizer, ensuring that he will no longer comment on this ongoing strategic review for which he is advised by Morgan Stanley Bank and Centerview Partners and Guggenheim Securities.

"Although there is a strong connection between non-prescription drugs and parts of our business, they remain separate from our priority activities so that their potential value would be better achieved outside the company," says the CEO, Ian Read, quoted in the statement.

Over the past two years, Pfizer has refocused on high-margin oncology and immunology (innovative drugs) and has strengthened treatments that have or will expire (so-called mature drugs).

Pfizer over-the-counter medicines are sold in more than 90 countries around the world. About ten of them have achieved annual sales each over 100 million in 2016, Pfizer said.

In addition to Advil, the well-known brands are Centrum and Caltrate for food supplements, Robitussin for cough or ChapStick lip balm.

On Wall Street, the title took 0,97% to 36,49 dollars to 12H30 GMT in the electronic exchanges preceding the opening of the session.

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