Pfizer to exit GSK joint venture after demerger - 0 views
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pharmacybiz on 04 Jun 22US drugs giant Pfizer will exit its consumer healthcare joint venture with GlaxoSmithKline after the unit is spun off next month, the British drugmaker said Wednesday (June 1). GSK will list the healthcare division on the London stock market on July 18 as it looks to concentrate on the pharmaceutical business, it said in a statement. The London-listed firm currently owns a majority 68 percent of the unit, with Pfizer holding the remainder. "Pfizer intends to exit its 32-percent ownership interest in Haleon in a disciplined manner, with the objective of maximising value for Pfizer shareholders," GSK said. Covid jab maker Pfizer is seeking to pursue its focus on "innovative medicines and vaccines", it noted. The unit, which will be named Haleon after the demerger, makes products including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu.