On Wednesday, Reckitt Benckiser Group, a consumer goods maker from the United Kingdom announced that it had ended its discussions with Pfizer Inc over its acquisition of the latter’s consumer healthcare business.
Pfizer has been on the market for the consumer health business of the company — which sells Centrum multivitamins, Chapstick lip balm, and Advil painkiller, among others. Last October, Pfizer has revealed that the firm was expecting a broad interest in the said unit.
Last January, citing sources who are familiar with the matter, Reuters reported that Johnson & Johnson also pulled out of the race to acquire the consumer healthcare business, and Pfizer wanted to sell the unit for no less than $20 billion (£14.1 billion).
Reckitt stated: “An acquisition of the whole Pfizer consumer health business did not fit our acquisition criteria and an acquisition of part of the business was not possible,”
In a statement, the British company said that the priority of Reckitt Benckiser would remain to be organic growth and integration of Mead Johnson Nutrition.