The business handles everything from everyday headache medications to cold remedies to digestive health supplements. A sale could happen for over $15 billion, insiders said. The unit had sales of $3.4 billion in 2016.
GlaxoSmithKline plc (GSK - Get Report) and Reckitt Benckiser Group Plc (RBGLY) are reportedly considering making offers to buy the unit. Pfizer had said earlier this month that it would consider selling the consumer healthcare business, but did not offer a timeline.
Snapping up consumer healthcare products that are consistent sellers can be a solid bet for pharmaceutical companies looking to stave off the high risk associated with developing new drugs.
Pfizer stock traded lower 0.23% to $36.19 late Wednesday afternoon.
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