Oct 10, 2017

Pfizer may sell off its consumer health unit

Pfizer is soliciting offers for its unit that sells over-the-counter products like Advil and Robitussin. Photo: Mark Lennihan / AP

Drug giant Pfizer is opening the process for a possible sale of its consumer health business, which makes over-the-counter products like Advil, ChapStick, Nexium and Robitussin. Wall Street analysts predict Pfizer could get around $15 billion for the business, which had global revenue of $3.4 billion in 2016.

Between the lines: Over-the-counter brands are profitable, but Pfizer wants to steer more of its business into the much higher margins of prescription drugs, an area where it has had few breakthrough therapies lately. Pfizer also has two valuable drug patents expiring soon (Viagra and Lyrica), which means the company could buy a biotech firm with money it gets from a sale.

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WHO won't call coronavirus a pandemic as cases spread

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The World Health Organization will not yet call the coronavirus a pandemic, claiming that needs across affected countries are too varied and the classification would increase fear, per a briefing Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 11 mins ago - Health

Democrats demand new Russia sanctions over 2020 election interference

Putin and Trump. Photo: Kremlin Press Office/Handout/Anadolu Agency/Getty Images

Senate Democratic leaders will send a letter to Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin on Monday afternoon demanding they sanction Russia — and potentially Russian President Vladimir Putin himself — for attempting to influence the 2020 presidential election.

Why it matters: The letter follows reports that a senior intelligence official briefed Congress that Russia is again interfering in the November election to help Trump. White House national security adviser Robert O'Brien repeatedly rejected that assessment on Sunday, and CNN later reported that the briefer may have overstated the intelligence community's evidence about Russia's goals.