Pfizer considers selling consumer unit

In a move aimed to "unlock the value" of its consumer health business for shareholders, pharmaceutical giant Pfizer has said it will consider selling this unit - which generated sales of $3.88 billion last year - "at a time when market valuations are attractive for large, high-quality consumer businesses." Pfizer added that it would discuss its options with analysts on February 10 (after this issue went to press). Meantime, the round of speculation as to who would buy the unit has started. Top of the list of US companies are Johnson & Johnson, Procter & Gamble and Wyeth. Of European firms, Bayer, which is looking to grow its over-the-counter operations, could be a likely contender, as might also be GlaxoSmithKline, although the latter's chief executive, Jean-Pierre Garnier, questioned at the firm's financial results briefing (see also page 3), would only say that GSK would look at all options.