Pharma BD Deal Intelligence
Pfizer, GlaxoSmithKline consumer healthcare merger to create over the counter drug giant, with GSK holding 68% and Pfizer 32%.
GlaxoSmithKline and Pfizer completed a transaction in 2019 to combine their consumer healthcare businesses into a joint venture, which was later spun off as…
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GSK and Pfizer combined their consumer healthcare businesses into a new joint venture, creating the world's largest OTC consumer healthcare company with ~$12.7B in combined annual sales. GSK contributed its consumer healthcare business and retained a 68% stake; Pfizer contributed its consumer healthcare business for a 32% equity stake. Pfizer received board representation (3 of 9 seats). The JV expected $650M in peak cost synergies. GSK later demerged the business as Haleon plc in July 2022.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| GlaxoSmithKline plc / Pfizer Inc. (Consumer Healthcare Division) (this deal) | 2018 | $12.7B | 76 |
| GlaxoSmithKline plc / Theravance, Inc. | 2012 | $213M | 82 |
| GlaxoSmithKline plc / Tesaro Inc. | 2018 | $5.1B | 79 |
| GlaxoSmithKline plc / Novartis Consumer Healthcare JV | 2018 | $13.0B | 74 |
| GlaxoSmithKline plc / ID Biomedical Corporation | 2005 | $1.4B | 64 |
| GlaxoSmithKline plc / Vir Biotechnology Inc. | 2020 | $595M | 51 |
| GlaxoSmithKline plc / Reliant Pharmaceuticals Inc. | 2007 | $1.6B | 47 |
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