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New York.
US pharmaceutical giant Pfizer is close to reaching a $9 billion deal to sell
its infant nutrition business to Nestle, according to the Wall Street Journal.
The Journal
said Nestle, the Swiss food giant, had apparently beaten out Groupe Danone and
Mead Johnson Nutrition, which had considered a joint bid for the business, and
that the final deal could be announced next week.
A Pfizer
spokeswoman contacted by AFP refused to comment on the report, saying “no
decisions have been made at this point” on the sale of the infant nutrition
business or an animal health business also set to be auctioned off.
“The animal
health and nutrition businesses are highly valued assets, and our decision
about strategic options will be driven by value creation and delivering the
best after-tax value for our shareholders,” she said.
Pfizer has
moved to unload peripheral entities in recent months in order to focus on its
core medicine business.
In November
its patent on the best-selling drug of all time, the cholesterol-lowering
medication Lipitor, expired, opening the path to generic competitors for
America’s most popular medication.
Agence France-Presse
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