WARREN, N.J. — GlaxoSmithKline said Thursday that it has closed a previously announced joint venture deal with Pfizer Inc. that will combine their respective consumer healthcare businesses. The move will create the world’s largest supplier of over-the-counter medications. The joint venture company will operate as GSK Consumer Healthcare. Pfizer owns a 32% equity stake in
WARREN, N.J. — Pfizer Inc. and GlaxoSmithKline PLC (GSK) have entered into an agreement that will create a premier global consumer health care company with robust iconic brands. The boards of directors of both companies have unanimously approved the transaction under which Pfizer will contribute its consumer health care business to GSK’s existing consumer health
NEW YORK — GlaxoSmithKline Plc and Pfizer Inc. have struck a deal to combine their consumer health care businesses, a move that will create the largest over-the-counter drug company in the world. GSK will have a 68% controlling stake in the new joint venture entity, while Pfizer will keep the remaining 32%. Combined sales of both
NEW YORK — Pfizer Inc. announced it will organize the company into three businesses: a science-based Innovative Medicines business which will now include biosimilars and a new hospital business unit for anti-infectives and sterile injectables; an off-patent branded and generic Established Medicines business operating with substantial autonomy within Pfizer; and a Consumer Healthcare business. These
NEW YORK — Pfizer Inc. is assessing strategic options for its Pfizer Consumer Healthcare subsidiary, including a potential sale. The pharmaceutical giant said this week that it’s considering “a full or partial separation of the Consumer Healthcare business from Pfizer through a spin-off, sale or other transaction.” However, the company noted that it may decided
NEW YORK — Pfizer Inc. said Wednesday that its merger agreement with Allergan PLC has been terminated by mutual agreement, a decision driven by the Treasury Department’s announcement of new rules intended to undercut this type of tax inversion deal. The move is a major victory for the Obama administration in its campaign against inversions,