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Industry NewsWATCH: Update on P&G purchase of Pfizer consumer healthcare unit

WATCH: Update on P&G purchase of Pfizer consumer healthcare unit

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Pfizer continues to pursue the sale of its consumer business, which includes well known brands such as Chapstick, Advil and Centrum vitamins. The unit has been up for sale for months, with potential bidders successively dropping out of contention.

Procter & Gamble is still apparently interested, but according to market analyst David Faber of CNBC’s The Faber Report, there remains a huge price gap between what P&G is prepared to offer – $15-16 B – and the price that Pfizer was hoping to get – at least $20 B.

Watch the full report here.

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