Last month Pfizer Inc. announced it is reviewing strategic alternatives for Pfizer Consumer Healthcare, which includes Visine eye drops. These strategic alternatives include retaining, spinning off, or selling the business. According to Pfizer, the stand-alone business could be valued at more than $10 billion.
Speculation about possible buyers of the business unit has already begun. Procter & Gamble Co. and Colgate-Palmolive Co. appear to be suitors. Deutsche Bank's consumer products analyst Bill Schmitz told Reuters that Procter & Gamble is "a less likely buyer because Crest Pro-Health mouthwash might post an antitrust conflict with Pfizer's Listerine." He added the Pfizer business unit would be good fit for Colgate-Palmolive. Another Reuters report said Bayer might bid on the Pfizer unit, while The Associated Press reported that Wyeth could be another possible bidder.