Pfizer India evaluates impact of deal with J&J
Pfizer India, a subsidiary of the global pharmaceutical major Pfizer Inc, on Monday said it was evaluating the impact of the sale of global consumer healthcare business by its parent to Johnson and Johnson.
By PTI |
NEW DELHI: Pfizer India, a subsidiary of the global pharmaceutical major Pfizer Inc, on Monday said it was evaluating the impact of the sale of global consumer healthcare business by its parent to Johnson and Johnson.
"At the moment we are in the process of evaluating how the deal would impact operations in India," a Pfizer India spokesperson said from Mumbai.
Johnson and Johnson had earlier announced that it had entered into a definitive agreement with Pfizer Inc to acquire the latter's consumer healthcare business for $16.6 billion in cash. The board of directors has approved the acquisition deal, it added.
Pfizer India currently sells brands like Benylin, Sudafed, Calpol, Listrine, Nicorette along with some other cough and cold medicine under its consumer healthcare business.
The spokesperson, however, declined to comment on the total worth of the consumer healthcare business in India.
ADVERTISEMENT
"Once we are clear as to what all other business and brands are likely to fall under the consumer healthcare category, we would be able to share the financial impact of the deal in India," the spokesperson said.Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
