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Many large pharmaceutical companies are ...
18/03/2002
Many large pharmaceutical companies are now selling off household brands which they no longer consider core to their profits. Pfizer is expected to put up for sale the Adams confectionery business as well as the Wilkinson Sword shaving business this summer, as well as other consumer businesses such as Tetra, the leading provider of products for the ornamental fish food market. Novartis, the Swiss drugs group is planning to sell Ovaltine, the direct competitor to Horlicks, which is owned by Glaxo. Glaxo also owns Lucozade but faces increasing competition from Coke and Pepsi. Many investors and analysts believe Glaxo should now sell Lucozade, Horlicks and Ribena, as they do not fit in with the group's portfolio.
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