April 3, 2018 / 3:45 PM / 6 months ago

UPDATE 1-Pfizer in talks with P&G for consumer health unit sale - CNBC

(Adds Pfizer, P&G comments)

April 3 (Reuters) - Pfizer Inc is in talks with Procter & Gamble Co for a sale of the largest U.S. drugmaker's consumer health business, CNBC reported on Tuesday, citing sources.

The companies were far apart on a price for the business and Pfizer is considering other options, including a joint venture with other drugmakers, the report said.

Pfizer said it is evaluating potential strategic options for the unit and expects to make a decision in 2018.

GlaxoSmithKline, Reckitt Benckiser and Johnson & Johnson have all exited from the bidding process, endangering an auction Pfizer hoped would bring in as much as $20 billion

P&G said it declined to comment. (Reporting by Manas Mishra in Bengaluru; Editing by Sriraj Kalluvila)

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