PFIZER LOOKS TO SELL OFF NON-DRUG BRANDS

Adams Confectionery, Schick-Wilkinson Being Shopped

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NEW YORK (AdAge.com) -- Pharmaceutical giant Pfizer said it may sell non-core businesses it had acquired in its merger with Warner-Lambert Co.

On the block are Adams confectionery, known for brands such as Trident gum and Halls lozenges, and Schick-Wilkinson Sword shaving products, which markets the Schick brand.

Pfizer Chairman-CEO Hank McKinnell

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said in a statement: "Both have outstanding reputations, world-recognized brands and strong positions in their respective industries. ... However, these businesses are not aligned with Pfizer's strategic focus on pharmaceuticals and health care."

Pfizer has hired Merrill Lynch and Lazard as investment bankers to explore options for Adams and Morgan Stanley for Schick-Wilkinson Sword.

Adams, which had $1.9 billion in sales in 2001, also markets Dentyne and Certs. Schick, with $620 million in 2001 sales, markets Xtreme III razors and Silk Effects. And under the Wilkinson Sword brand, it manufactures ceremonial swords.

Pfizer spent $17.5 million on Schick in 2001 and $93 million on Adams brands. Schick is handled by WPP Group's J. Walter Thompson, New York, while Cordiant Communications Group's Bates Worldwide, New York, is the agency for Adams.

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