GlaxoSmithKline Plc is to execute the demerger of its consumer division in July, creating two new public companies one of which will supply products to the global consumer healthcare market. The other will be a new version of the current GSK, only tightly focused on innovative biopharmaceuticals and vaccines.
First announced in late 2018, the demerger is the culmination of three years of planning. GSK’s consumer division was created in 2015 following a transaction with Novartis. It was later enlarged to include assets from Pfizer.