Pfizer: OTC joint venture deal with GSK now closed

(CercleFinance.com) - The joint venture deal combining Pfizer and GlaxoSmithKline's respective consumer healthcare businesses has closed, the drugmakers said on Wednesday.


The combined business - which will operate globally as GSK Consumer Healthcare - is set to become the world's largest over-the-counter (OTC) business, with iconic brands in pain killers, respiratory products and vitamins.

Pfizer owns a 32% stake in the joint venture and GSK the remaining 68%.

GSK said it intends to separate the joint venture as an independent company via a demerger of its stake to its shareholders and a listing of the joint venture on the UK equity market.

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