Pfizer is reportedly nearing an agreement to sell its infant nutrition business, with both Nestle and Danone linked to the deal. 

The US pharmaceutical company has previously confirmed to just-food that it is “considering strategic options” for the business, including a “sale, spin-off or other transaction”. 

According to a report in the Wall Street Journal, Pfizer has stuck an agreement to sell the unit to Nestle for US$9bn. Meanwhile, other reports have suggested that Nestle and Danone have both submitted competing bids, valuing the business at around $10bn. 

Pfizer is expected to announce a sale of the unit next week.