P&G se va...

The FT noted remarks made by P&G chief executive AG Lafley to analysts in December where he said that the company had stopped investing in new drug development and would consider divesting some of its key pharma brands. He added that when P&G had been investing heavily in pharmaceuticals in the 1990s, the returns had been well above those from consumer products, which is no longer the case.

However most of that comes from products such as the over-the-counter version of AstraZeneca's antiulcerant Prilosec (omeprazole) and Pepto-Bismol for heartburn and upset stomachs, while sales of pharmaceuticals only accounted for around $2 billion. Its leading treatment in that area is the osteoporosis drug Actonel (risedronate), marketed with Sanofi-Aventis.

Mas...