Reports from the US say personal care giant Johnson & Johnson is close to a deal to acquire drug maker Pfizer's over-the-counter division for about $16 billion.
The Wall Street Journal report in its online edition said the amount would top the $14 billion Pfizer had been expecting from the sale. The Pfizer division includes well-known brands such as Visine eye drops and Sudafed decongestant.
Pfizer announced in February that it planned to sell off the division, which in 2005 reported about $4 billion in sales and netted pre-tax earnings of about $700m.
