(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