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Does Pfizer’s consumer healthcare announcement herald a trend towards slimmer, more focused business models? Pfizer’s announcement that it is exploring a sale or spin-off of its consumer healthcare business comes hard on the heels of a similar decision by the German company Merck. This runs against the trend of a few years ago when there was a scramble by Big Pharma to get into the consumer health/OTC medicines market in order to spread the business risk as Rx drugs came under increasing price and regulatory pressures and patents expired on blockbusters. Pfizer Consumer Healthcare is one of the largest OTC/healthcare products businesses in the world. Revenues in 2016 were around $3.4 billi
