GSK and Pfizer completed the demerger of its consumer healthcare unit in a $36bn deal.

Pharmaceutical companies GlaxoSmithKline and Pfizer, completed the demerger of its consumer healthcare unit into a publicly-traded company in a $36bn deal. The new Consumer Healthcare company have a portfolio which generated annual sales of more than £10bn ($14bn) in 2020 and is well-positioned for further growth. Driven by brands, innovation, leading-edge science and human understanding to deliver better everyday health, the company will have nine global power brands holding category leadership positions and major sales presences in the US and China. Altogether the business offers strong prospects for sustainable sales and profit growth, high cash generation and delivery of attractive returns for shareholders. On January 15, 2022, Unilever had approached GSK in possible $68bn deal. On January 15, 2022, GSK rejects a $68bn Unilever offer for its consumer assets. On February 23,2022, GSK to name consumer healthcare unit 'Haleon' after spin-off.