Pfizer still courting suitors for $1.87bn nutrition division

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Nestlé, Danone, Abbott Laboratories and Heinz remain in the running to purchase the $1.87bn nutrition division of Pfizer, its CEO Ian Read confirmed yesterday.

“It is on track and we are happy with the way it is going,”​ Bloomberg reported Read saying at the JP Morgan Healthcare Conference in San Francisco.

Pfizer is focusing on developing new drugs as its blockbuster items like cholesterol-buster, Lipitor, come off-patent and face generic competition for the first time.

The drug giant's nutrition unit trades in vitamins and minerals and infant formula products, and it has also put its $3.56bn animal nutrition unit on the market.

Pfizer said it expects the transactions to be completed between the middle of 2012 and mid-2013.

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