US firm to buy into consumer healthcare portfolio and pave way for long-term spin-off of drugs business
GlaxoSmithKline, one of the world’s biggest drugs groups, is to be broken up after the company agreed to spin off its consumer healthcare business in a £10bn joint venture with US rival Pfizer.
GSK, whose consumer brands include Sensodyne and Panadol, will have a controlling stake in the partnership of 68%, with Pfizer owning the remainder.
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