Pfizer India sells 4 health products to J&J

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Mumbai, Dec 31: Eighteen months after US-based Johnson & Johnson (J&J) acquired Pfizer Consumer Healthcare for $16.6 billion, Pfizer Inc’s Indian arm Pfizer Ltd on Monday said that the company's board has approved the sale of four consumer health brands - Listerine, Benadryl, Caladryl and Benylin - to J&J’s Indian subsidiary, Johnson & Johnson Limited, for Rs 214.85 crore. However, Pfizer India Consumer Health, a division of Pfizer India, has retained other key brands such as Gelusil, Nebasulf, Selsun, Ferradol, Neko and Waterbury’s Compound. “We believe that there is tremendous potential in our brands and business strategies will be put in place to maximise the opportunities and drive growth in the consumer health business,” Pfizer India said in a media statement.

The Pfizer Ltd stock gained 0.98% on the BSE on Monday to end the day at Rs 805.05 points.

Pfizer India used to derive around 10% of its total revenues from its over the counter (OTC) segment before the sell off. For the fiscal ended November 2006, the company had total revenues of Rs 662.4 crore with a net profit of Rs 105.7 crore.

It was in June 2006 that healthcare products manufacturer J&J acquired Pfizer Consumer Healthcare for $16.6 billion in cash. Pfizer Consumer Healthcare's global business of personal care and over-the-counter (OTC) products achieved sales of $3.9 billion in 2005. "This combination creates the world's premier consumer health care company," William C. Weldon, chairman and CEO of J&J, had said then.