Pfizer/Pharmacia deal
This article was originally published in The Rose Sheet
Executive Summary
Pharmaceutical firm to acquire Rogaine hair regrowth business and other OTC treatment products such as the Nicorette smoking cessation brand as part of the company's Rx-driven acquisition of Pharmacia. With $732 mil. in revenue in 2001, Pharmacia's OTC business will be folded into Pfizers significantly larger consumer health operations, Pfizer Chairman and CEO Hank McKinnel said during a 1July 15 merger briefing. Pfizer Consumer Healthcare, with sales of $2.45 bil. in 2001, includes Listerine mouthwash and Benadryl allergy remedies. Pfizer planning to acquire Pharmacia in a $60 bil. stock-for-stock transaction...