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Glaxo, Reckitt Are Said to Be Only Suitors for Pfizer's Division

  • Companies including Sanofi, J&J, Nestle have dropped out
  • Due diligence to start shortly, ahead of final offers
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Photographer: Montana Pritchard/PGA of America

GlaxoSmithKline Plc and Reckitt Benckiser Group Plc are the only companies to have submitted non-binding bids for Pfizer Inc.’s consumer-health business after other potential suitors bowed out, according to people with knowledge of the matter.

Pfizer plans to open a data room for Glaxo and Reckitt to start due diligence on the assets before submitting final offers in the next few weeks, the people said, asking not to be identified because the matter is private. French drugmaker Sanofi, Switzerland’s Nestle SA and U.S. health care-giant Johnson & Johnson were among companies to consider and then decide against bidding for the business, the people said.