Household giant Procter & Gamble has sold its pharmaceutical business to Irish healthcare group Warner Chilcott for £1.9bn.
The sale allows P&G, owner of brands including Vicks and Fairy Liquid, to focus on its core over-the-counter medicine and household cleaning ranges.
The prescription pharmaceutical division had annual sales of around $2.3bn but accounted less than 3% of P&G’s total turnover.
The deal is the largest in the sector so far this year and will triple the size of Warner Chilcott, which currently specialises in women’s healthcare.
www.thegrocer.co.uk
Pharmaceutical Process Equipment
