Pfizer Mulls Options for Consumer Unit

Pfizer (PFE Quote) said Tuesday it plans to explore strategic alternatives for its consumer health business, the segment whose over-the-counter products range from Listerine mouthwash to Rogaine hair-growth treatment to Dramamine motion-sickness drug.

"Strategic alternatives" is usually a Wall Street code word for divestiture. Pfizer said in a brief press release that the options could include keeping the consumer products unit, spinning it off or selling it.

"The objective of the review is to unlock the value of the business for Pfizer shareholders at a time when market valuations are attractive for large, high-quality consumer businesses," the company said about 90 minutes after the markets had closed. In regular trading, the stock rose 9 cents to $25.18. After hours, the stock gained 42 cents. ...