A year after global drug major Pfizer announced the sale of some of its consumer health brands to Johnson & Johnson, the board of Pfizer India cleared the proposal for the transfer of the brands to J&J in India.
The transfer of Listerine, Benadryl, Caladryl and Benylin has been valued at Rs 214.85 crore.
Kewal Handa, managing director, Pfizer India, said that all other brands and the consumer health team will continue to be an integral part of the company.
"The Pfizer India consumer health portfolio includes key brands such as Gelusil, Nebasulf, Selsun, Ferradol, Neko and Waterbury’s Compound. We believe there is tremendous potential in our brands, and business strategies will be put in place to maximise opportunities and drive growth in the consumer health business," Handa said in a company release issued today.
J&J had acquired Pfizer's consumer healthcare business for $16.6 billion in cash.
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