Procter & Gamble is working with Goldman Sachs to identify potential buyers for its pharmaceuticals brands or find other ways to pull out of the business, people close to the matter said on Wednesday.

The consumer goods group, which sells brands such as Gillette razors and Crest toothpaste, has been working actively to focus more heavily on high-growth businesses and divest non-key assets. It completed the $2.95bn sale of its Folgers coffee business to JM Smucker late last year.