Business Medical Dialogues
    • facebook
    • twitter
    Login Register
    • facebook
    • twitter
    Login Register
    • Medical Dialogues
    • Speciality Dialogues
    • Education Dialogues
    • Medical Jobs
    • Medical Matrimony
    • MD Brand Connect
    Business Medical Dialogues
    • News
        • Financial Results
        • Hospitals & Diagnostics
        • IT / Health Venture
        • Implants / Devices
        • Insurance
        • Key Movement
        • Pharmaceuticals
        • Policy
        • Technology
        • pharma-news
    • blog
    LoginRegister
    Business Medical Dialogues
    LoginRegister
    • Home
    • News
      • Financial Results
      • Hospitals & Diagnostics
      • IT / Health Venture
      • Implants / Devices
      • Insurance
      • Key Movement
      • Pharmaceuticals
      • Policy
      • Technology
      • pharma-news
    • blog
    • Home
    • News
    • IT / Health Venture
    • GSK, Pfizer to Merge...

    GSK, Pfizer to Merge Consumer Healthcare units

    Farhat NasimWritten by Farhat Nasim Published On 2018-12-20T09:29:37+05:30  |  Updated On 16 Aug 2021 4:08 PM IST

    The deal paves the way for British group GSK to have two UK-listed companies, one specialised in the development of drugs and the other in consumer healthcare.





    New Delhi: Pharmaceutical giants GlaxoSmithKline and Pfizer on Wednesday announced a merger of their consumer healthcare units that produce over-the-counter medicines.

    GSK said it would have a 68-per cent controlling equity interest in the joint venture that will have combined the sales of about £9.8 billion ($12.7 billion, 10.9 billion euros).


    The deal paves the way for British group GSK to have two UK-listed companies, one specialised in the development of drugs and the other in consumer healthcare.



    It comes at a time when the pharmaceutical industry's biggest players are seeking out new blockbuster treatments following the expiry of patents for some of their major drugs that enabled smaller rivals to offer cheaper alternatives."Within three years of the closing of the transaction, GSK intends to separate the joint venture via a demerger of its equity interest and a listing of GSK Consumer Healthcare on the UK equity market," a statement said.

    "Over this period, GSK will substantially complete the integration and expects to make continued progress in strengthening its pharmaceuticals business and R&D pipeline."

    In a separate statement, US giant Pfizer said the joint venture "will be a category leader in pain relief, respiratory, vitamin and mineral supplements, digestive health, skin health and therapeutic oral health and will be the largest global consumer healthcare business".

    GSK chief executive Emma Walmsley said, "the transaction also presents a clear pathway forward for GSK to create a new global pharmaceuticals/vaccines company... focused on science related to the immune system, use of genetics and advanced technologies".

    "Ultimately, our goal is to create two exceptional, UK-based global companies, with appropriate capital structures, that are each well positioned to deliver improving returns to shareholders and significant benefits to patients and consumers," she added.

    This is Ian Read's last big venture as the CEO Pfizer, as he will be succeeded by the company's chief operating officer Albert Bourla by the end of the year.

    "We are pleased to announce this new joint venture for Pfizer Consumer Healthcare, delivering on our commitment to complete the strategic review for this business in 2018," Read said.

    "Pfizer and GSK have an excellent track record of creating successful collaborations, and we look forward to working together again to unlock the potential of our combined consumer healthcare businesses," he added.



    Also Read: HUL, GSK Consumer shares rise 4 pc after boards approve merger
    Albert Bourlaconsumer healthdrugsequityGlaxo Smith KlineGSK Consumer HealthcaremergemergerPfizerpharmapharmaceuticalUK
    Source : AFP

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

      Show Full Article
      Next Story
      Similar Posts
      NO DATA FOUND

      Popular Stories

      • Email: info@medicaldialogues.in
      • Phone: 011 - 4372 0751

      Website Last Updated On : 13 Oct 2022 5:14 AM GMT
      Company
      • About Us
      • Contact Us
      • Our Team
      • Reach our Editor
      • Feedback
      • Submit Article
      Ads & Legal
      • Advertise
      • Advertise Policy
      • Terms and Conditions
      • Privacy Policy
      • Editorial Policy
      • Comments Policy
      • Disclamier
      Medical Dialogues is health news portal designed to update medical and healthcare professionals but does not limit/block other interested parties from accessing our general health content. The health content on Medical Dialogues and its subdomains is created and/or edited by our expert team, that includes doctors, healthcare researchers and scientific writers, who review all medical information to keep them in line with the latest evidence-based medical information and accepted health guidelines by established medical organisations of the world.

      Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription.Use of this site is subject to our terms of use, privacy policy, advertisement policy. You can check out disclaimers here. © 2025 Minerva Medical Treatment Pvt Ltd

      © 2025 - Medical Dialogues. All Rights Reserved.
      Powered By: Hocalwire
      X
      We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok