P&G looking to sell pharma operations

USA-based Procter & Gamble, the world's largest consumer products group, which also has a significant health care division, is looking to  pullout of the pharmaceutical business, according to a report to appear  first in the UK's Financial Times, and picked up by other media.

P&G has reportedly engaged Goldman Sachs to identify potential buyers  for its pharmaceutical brands, which include the osteoporosis drug  Actonel (risedronate), co-marketed with French drug major  Sanofi-Aventis, and the over-active bladder product Enablex  (darifenacin), as well as gastrointestinal agents Prilosec (omeprazole)  and over-the-counter Pepto-Bismol.

Although there has been no statement on the current speculation from  P&G, as recently as last December the group's chief executive, AG  Lafley, told analysts that the firm had ceased investing in new drug  development. Also, just last month, Belgium partner Ablynx acquired the  full rights to a bone disorder R&D program initiated under its  collaboration with P&G started in 2004 (Marketletter January 26).