(Reuters) – Unilever (NYSE 🙂 approached GlaxoSmithKline NYSE : about purchasing the consumer goods division of the pharmaceutical company. This was after a paper reported that a $50 billion ($68.4 Billion) offer it had made to buy GlaxoSmithKline had been rejected.
GSK did not comment on this alternative to the plan to list the business on its own on the London Stock Exchange.
Which U.S. pharmacy company owns the consumer goods industry? Pfizer The 32% share of (NYSE:) includes brands such Asprin, Sensodyne, Parodontax, Voltaren and Panadol as well pain-relief medications Advil, Voltaren & Panadol, Otrivin nasal Spray, Cold and Flu Medicine Theraflu and Centrum Vitamins.
GSK and Pfizer combined their consumer health business in 2019 in an agreement.
GSK, which had previously reached a $13billion deal to acquire full control over a consumer venture in health with Novartis (Swiss drug group Novartis), had made the purchase.
GSK is a leading OTC (over-the-counter) health company with the number 1 position in many markets, including Germany and the United States.
Its rivals include Johnson & Johnson (NYSE:), Bayer (OTC:) and Sanofi (NASDAQ:).
It generated 10 billion pounds in sales ($13.7billion) for 2020.
GSK’s two main divisions were pharmaceuticals and vaccines. The company had a turnover of 34 Billion pounds in that same year.
Dave Lewis, the former chief executive officer of British supermarket company Tesco (OTC): has been named to lead the operation when it’s spun off.
Brian McNamara is the new chief executive. He has held this position since 2016 as part of GSK.
A new headquarters will be built at Weybridge, southern England by the demerged firm.
($1 = 0.7314 pounds)
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