If P&G Seeks OTC Sale, Pharma Buyers Might Line Up
P&G's activist investor Trian Fund Management is known for pressuring big companies to break up. The OTC business would likely have plenty of potential buyers.
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Firm's sales were down in all segments but health care in the third quarter, reflecting challenges it sees worldwide across consumer industries. In this environment, and facing the threat of commoditization in the categories where it competes, P&G is focused on delivering "irresistible superiority," a strategy that drew questions from analysts as to how exactly it will translate to wins in practice.
P&G completes the bulk of the portfolio rationalization it launched in 2014, shedding or restructuring more than half of its brands globally to focus on 10 core categories, says CFO Jon Moeller.
New CEO Camillo Pane says the 40-plus beauty brands picked up from P&G position Coty as a “challenger” in global beauty. The firm aims to achieve a “best-in-class profit margin and cash flow conversion model,” with projected growth acceleration in the second half of fiscal 2017.