Pfizer Keeps Hands On Consumer Product Wheel In Opting Against Split
This article was originally published in The Pink Sheet
Pfizer didn't cite its consumer health business in announcing it will retain current structure, but best-selling Lipitor's cholesterol treatment indication is the most coveted indication yet to be available OTC.
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The pharma giant's decision not to break up into two separate publicly traded companies as it has been contemplating for several years reflects an improved growth outlook and the inability to unlock trapped value. Now Pfizer can finally get on with business.
Driven by US sales of Nexium 24HR and Advil, Pfizer's fiscal 2016 first-quarter consumer product revenues increased 2% to $822m. CEO Ian Read says Pfizer is open to adding to or selling off its consumer business, but currently likes it just where it is.
A 1,200-subject actual use trial to simulate the OTC use of Lipitor 10 mg did not meet its primary objectives of demonstrating patient compliance with the direction to check low-density lipoprotein cholesterol level and after checking their LDL-C level take appropriate action based on test results.