Pfizer Will Buy European Consumer Health Business

According to the Associated Press, Pfizer Inc. said it will expand its European business by acquiring Ferrosan''s consumer health care business which includes vitamins and skincare products. The drugmaker did not disclose financial terms of the deal. Pfizer said the purchase will give it Ferrosan dietary supplements and lifestyle products including Multi-tab multivitamins, Bifiform probiotics, and Imedeen oral skincare products. Pfizer said it will use Ferrosan''s business to boost sales of Pfizer products like the Centrum and Caltrate supplements. Ferrosan is based in Copenhagen, and does business in Central and Eastern Europe, including Russia, Ukraine, Poland, and Turkey, along with the Nordic countries. The company is owned by an Altor Equity Partners fund. Altor is maintaining ownership of Ferrosan''s medical device business. Pfizer expects the deal to close during the second quarter, assuming the sale is cleared by regulators.