(Reuters) - Pfizer Inc (PFE.N) is in talks with Procter & Gamble Co (PG.N) for a sale of the largest U.S. drugmaker’s consumer health business, CNBC reported on Tuesday, citing sources.
A logo of Pfizer is displayed on a monitor outside of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson
The companies were far apart on a price for the business and Pfizer is considering other options, including a joint venture with other drugmakers, the report said.
Pfizer said it is evaluating potential strategic options for the unit and expects to make a decision in 2018.
GlaxoSmithKline (GSK.L), Reckitt Benckiser (RB.L) and Johnson & Johnson (JNJ.N) have all exited from the bidding process, endangering an auction Pfizer hoped would bring in as much as $20 billion
P&G said it declined to comment.
Reporting by Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila