Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.
Today, Pfizer and Glaxo—also known as Pfizer Inc. and GlaxoSmithKline PLC—announced they will be merging their consumer healthcare businesses to create a massive new venture.
In doing so, Pfizer and Glaxo are creating the globe’s largest consumer healthcare goods company, with over-the-counter brands like ChapStick, Advil, Emergen-C and more under its umbrella.
The plan is for the company to be spun off into its own independent business within five years of the deal’s closure.
Until then, U.K.-based Glaxo will hold a 68 percent stake in the business, while Pfizer will hold a smaller share at 32 percent.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in