The Financial Times' Julie Macintosh and Jonathan Birchall in New York report exclusively (2/5) that consumer products giant, Procter & Gamble has retained Goldman Sachs to help it unload its pharmaceuticals brands. WSJ.com's Health Blog credits Macintosh and Birchall with the scoop.
In addition to its print story, the FT posts a video of Macintosh explaining why it makes more sense for giant pharma companies to own consumer products divisions than for giant consumer products companies to own pharma divisions. Last week, as the FT reporters note, P&G shares hit a 52-week low of $52.21. P&G's healthcare unit - both consumer products and prescriptions -- earned $2.5 billion in 2008 on $14.6 billion in sales.
Macintosh's video can be viewed here.
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