Asked about the potential for newly independent Opella to divest some consumer health brands, Lombardi responded: “We’ve been through this a little bit before.”

He described Sanofi’s sale of a 50% controlling stake in its former consumer health business to private equity firm CD&R for around €10bn ($11.3bn) in cash as “the next in line of the spinout of the big pharma.”

PCH has “ample capacity” to continue looking for potential acquisitions of brands or product portfolios, according to its earnings presentation.

Opella’s launch “really doesn’t do anything to change the competitive landscape of where we’re focused or the competitors in those spaces,” Lombardi said.

“Over time, we’ve seen the big pharma spinouts potentially be opportunities for brands that may come to market. It’s more of the same with the latest spin out for us.”

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