GSK, Pfizer JV allows both pharmas to focus on innovation

GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) took the first step toward splitting up the pharma's consumer healthcare and innovative R&D businesses by agreeing to form a consumer healthcare joint venture with Pfizer Inc. (NYSE:PFE). The British pharma intends to separate from the JV within three years of the close of the deal and list the consumer healthcare business on a U.K. equity market,

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