Johnson & Johnson is close to reaching a deal to buy the consumer products unit of Pfizer, which includes brands like Listerine and Sudafed, for more than $16 billion, The New York Times online edition reported on Sunday.
If true, J&J will beat GSK and Reckitt Benkeiser to the prize.
Citing people involved in the deal, the newspaper said the transaction could be announced later on Sunday or Monday morning.
Pfizer first announced in February it was weighing a sale or spinoff of the business.
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