Bristol-Myers Squibb is quietly sounding out potential bidders for a possible sale of Mead Johnson, its baby formula business, which is valued between $7bn-$9bn.

The US drugmaker has tentatively approached PepsiCo, Danone, Nestlé, Kraft and Heinz to test the appetite for a formal auction of Mead Johnson, according to people close to the situation. BMS has also put out feelers to pharmaceutical companies which have nutritional divisions, including Johnson & Johnson, GlaxoSmithKline and Novartis, those people said.