Pfizer Consumer Health True To Form Pending Move To JV With GSK
Pfizer consumer health sales up 4% to $3.6bn in 2018 as it prepares to move business into JV with GSK anticipated to close in the second half of 2019. Following 2% growth in 2017, a flat year in 2016 and a dip in 2015, Pfizer's view is confirmed of consumer health as a reliable revenue stream but not a strong growth driver.
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Although 1993 studies to make Aleve available OTC didn't support claiming the naproxen oral analgesic lasted longer than ibuprofen-containing Advil, 2018 study Bayer submitted for National Advertising Division review shows Advil's efficacy doesn't exceed Aleve's. Report also says while Pfizer criticized inpatient methodology of Bayer's study, inpatient is industry standard method for pain medication trials.
Sales to Crown Labs didn't breach GSK's attention when it reported its Q1 results, with its consumer health discussion limited to general figures on regions and product categories. Pfizer offered even less about its consumer health operations and plans with its Q1 report.For Crown Labs, landing North American rights to Keri brand marks another step toward offering comprehensive skin care selection.
Big pharmas' agreement could put consumer health where Pfizer wants, entirely in its rear-view mirror, and points GSK toward what it wants, more research and development funding freed up for the pharmaceutical ingredient operations that are its chief revenue drivers. All-equity deal, giving GSK 68% control and expected to close in 2019 second half, also likely will boost investors' confidence in the firms as both have been dogged by pressure to sell, spin-off or otherwise divest their consumer businesses.