Reckitt Benckiser Ends Talks to Buy Pfizer's Consumer Health-Care Business

   By Carlo Martuscelli 
 

Reckitt Benckiser Group PLC (RB.LN) said Thursday that it has ended discussions about its potential acquisition of Pfizer Inc.'s (PFE) consumer health-care business.

The consumer-goods company said it had only been looking to buy part of the business because the whole unit did not meet its acquisition criteria, but this had turned out to be impossible.

"Our priority remains organic growth, including the completion of the integration of Mead Johnson Nutrition and creating further value from reorganizing into two new business units--Health and Hygiene Home," Reckitt Benckiser Chief Executive Rakesh Kapoor said.

Pfizer said last October that it was considering a sale or spinoff of its over-the-counter unit, which makes Advil ibuprofen and Centrum multivitamin pills. The unit is expected to fetch more than $10 billion, according to analysts.

This leaves GlaxoSmithKline PLC (GSK.LN) in the running to buy the unit. The pharmaceutical major said in October said it was considering a bid for the unit should the U.S. company put it up for sale.

Write to Carlo Martuscelli at [e-mail]

(END) Dow Jones Newswires

March 22, 2018 03:37 ET (07:37 GMT)

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