UPDATE 1-Reckitt Benckiser pulls out of Pfizer consumer health auction

(Adds background on Pfizer's consumer health unit, details from statement)

March 21 (Reuters) - British consumer goods maker Reckitt Benckiser Group said on Wednesday it has ended discussions with Pfizer Inc over buying its consumer healthcare business.

Pfizer has been on the market for its consumer health business which sells Advil painkiller, Centrum multivitamins and Chapstick lip balm and had said in October that it expected broad interest for the unit.

Johnson & Johnson pulled out of the race to buy the business, and Pfizer wanted to sell the unit for no less than $20 billion, Reuters reported in January, citing sources familiar with the matter.

"An acquisition for the whole Pfizer consumer health business did not fit our acquisition criteria and an acquisition of part of the business was not possible," Reckitt said.

Reckitt's priority would remain organic growth and integration of Mead Johnson Nutrition, the British company said in a statement. (Reporting by Manas Mishra and Rama Venkat Raman in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)