GlaxoSmithKline’s (GSK) Consumer Healthcare division will be spun-off into a separately listed company by the middle of 2022.
GSK operates in three major business segments, namely, Pharmaceuticals, Vaccines and Consumer Healthcare. The company has announced its intentions around spinning-off its Consumer Healthcare division as a separately listed biopharma company focused on specialty medicines and vaccines.
Post-separation, the new division would concentrate on category-leading power brands. Currently, the Consumer Healthcare division comprises on brands that target oral health, cold, flu and allergy, pain relief, digestive heath and vitamins, minerals and supplements.
With this announcement, the company intends to structure the transaction in a tax efficient manner for both the US and UK stakeholders. GSK plans to share the comprehensive update to investors on the separation by early 2022. The new division would also focus across four core therapeutic areas including HIV.
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