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GSK launch sale of consumer healthcare brands

Published on 20/06/19 at 08:07am

British multinational GlaxoSmithKline (GSK) has launched a sale of some of its consumer healthcare brands.

The sale comes as GSK seeks to raise £1 billion before it folds its consumer healthcare business into a joint venture with American drugmaker Pfizer.

GSK has thus bundled together three different portfolios which it will sell off to the highest bidder. The firm has roped in boutique investment bank Greenhill to market the portfolios which include Latin American drugs and Physiogel Skin Care products.

A third portfolio of European drugs will be sold at a much higher price at the end of the summer.

The move comes as GSK streamlines its product offerings ahead of a folding of its consumer business into a joint venture with Pfizer in the second half of this year.

The joint venture is set to become a market leader that will primarily look to China and the United States for growth.

According to sources speaking to reuters, the three portfolios have a combined revenue of between £200- £300 million a year. The European portfolio represents around 40% of combined sales.

Louis Goss

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