The Hindu Business Line : Pfizer board okays sale of 4 brands to J&J

Mumbai, Dec. 31 Pfizer Ltd has got the approval of its board of directors to transfer four of its consumer health brands— mouth-wash Listerine, cough-syrup Benadryl, skin-cream Caladryl and cough-suppressant Benylin — to Johnson & Johnson for a consideration of Rs 214.85 crore. The development in India comes nearly 18 months after the global transfer was announced between the two companies.

However, the transfer of a handful of brands from Pfizer to J&J in India is different from Pfizer’s global sale of the consumer health business, where the entire business changed hands. This is because of local negotiations and business strategies, but it remains within the framework of the global agreement, Pfizer’s Managing Director in India, Mr Kewal Handa, told Business Line.

All other brands and the consumer health team will continue to be an integral part of Pfizer India, a note from the company said. The Pfizer India consumer health portfolio includes brands such as Gelusil, Nebasulf, Selsun, Ferradol, Neko and Waterbury’s Compound.

Pfizer will also provide J&J certain transitional services, the company told the Bombay Stock Exchange, and thereby the execution of the Transitional Services Agreement.

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