NEW
YORK: US pharmaceutical giant Pfizer is
close to reaching a US$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.
-
AFP/wm
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