Pfizer says goodbye to children and is ready to sell the baby milk division to the Swiss group Nestlè for over 9 billion dollars. According to sources close to the US pharmaceutical giant quoted by the Wall Street Journal, it seems that Nestlè has beaten the joint offer of the French-American competitors Danone and Mead Johnson and is ready to announce the agreement next week. Indiscretions which, however, must be taken with caution because in the last stages of the auction there could be decisive and radical changes.
The sale is consistent with Pfizer's plan to target the sale of prescription drugs. Strategy that will lead him to sell the veterinary division, for which Novartis had offered, last march, $16 billion deemed insufficient. Pfizer is actually studying an IPO (initial public offering) along with Jp Morgan Chase, Bank of America, Merrill Lynch and Morgan Stanley: listing documents are expected to be filed this summer. But Bayer is also considering a possible offer.
