- Friday, April 19, 2024
By: Radhakrishna N S
GlaxoSmithKline Plc (GSK) has said on Wednesday (19) that has reached an agreement with Pfizer Inc to combine their consumer health businesses into a new joint venture, with combined sales of approximately £9.8 billion. GSK will have a majority controlling equity interest of 68 per cent while Pfizer will have an equity interest of 32 per cent in the joint venture. The proposed all-equity transaction represents a compelling opportunity to build on the recent buyout of Novartis’ stake in GSK Consumer Healthcare, to create a new consumer healthcare business and to deliver further significant shareholder value. The new joint venture…
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