A number of big rivals of pharmaceutical company Pfizer have bid more than $14 billion for its consumer products unit, which includes popular brands Listerine mouthwash, Sudafed and Lubriderm skin lotion, according to news reports.
Bidders include GlaxoSmithKline and Johnson & Johnson, as well as Reckitt Benckiser, a British-based household cleaning products maker of Lysol, Woolite and other products. Pfizer is the world’s largest pharmaceutical company, following Glaxo.
Pfizer, which is also considering a spin off, announced last February that it planned to sell its consumer products division to focus on its more profitable prescription drug business. The consumer products division reported 2005 sales of $3.9 billion, a 10% jump over 2004.
The New York Times reported that Procter & Gamble passed on the purchase because it was too expensive.
Pfizer’s consumer products unit is also the maker of Rolaids, Benadryl, Rogaine and Zantac.
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