Spin-off or sell-off for Pfizer
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Executive Summary
Spinning off its Consumer Healthcare unit into a new, independent company represents one of the two most realistic options left for Pfizer now that Glaxo- SmithKline (GSK), Johnson & Johnson (J&J) and Reckitt Benckiser (RB) have walked away from acquiring the unit, according to Fuad Sawaya of investment bank Sawaya Partners.