GlaxoSmithKline agrees consumer tie-up with Pfizer ahead of future spin-off


British drugs giant GlaxoSmithKline has agreed a tie-up with US rival Pfizer to merge their consumer healthcare divisions to create a business with combined sales of 9.8 billion. The deal paves the way for Glaxo to break itself up to form two separate UK-based companies one focused on pharmaceuticals and vaccines, and the other on consumer healthcare.



from Biotech News