Pfizer May Sell Candy and Razors Tomorrow
The Wall Street Journal reports that Pfizer Inc. will be free later this week to shave off more than an estimated five billion dollars worth of razors, gum and mints after two years of waiting. Pfizer is prohibited from pursuing the sale of the non-core food and shaving businesses it acquired in its $115 billion purchase of rival drug maker Warner-Lambert by “pooling-of-interests” restrictions until June 19.
Given the concentrated emphasis Pfizer is putting on medicines, its core business, market watchers consider it likely that Pfizer will look for buyers for its non-core operations. The divestiture of Pfizer’s non-pharmaceutical entities would be consistent with its history and would make profit margins more dependable in the long run, according to David Saks, chief investment officer for Ladenburg Thalman’s Saks MedScience Fund.
Moderator Comment: What companies are the likely bidders
for Adams and Schick? Who has the most to gain/lose? [George
Anderson – Moderator]