- June 23, 2021
- Posted by: Stratford Team
- Category: Business
- GSK consumer arm to be demerged in middle of 2022
- Drugs business to get 8 bln stg dividend from consumer arm
- Lower debt ratio, dividend to boost finances of drugs arm
June 23 (Reuters) – GSK (GSK.L) set out plans on Wednesday to turn its consumer healthcare business into a separately listed company, aiming to strengthen drug development at its pharmaceuticals business with an 8 billion pound ($11 billion) windfall.
Investors have been waiting for details of the separation, which was first unveiled in December 2018 when GSK (GSK.L) agreed a joint venture for consumer brands such as Sensodyne toothpaste and Advil painkillers with Pfizer (PFE.N).
The demerger planned for the middle of next year will allow GSK to focus on bolstering a core drugs business, which has been hit by a lack of fast-growing products and patients deferring treatments due to the COVID-19 pandemic.
Despite being the world’s biggest vaccines maker, GSK has also been beaten by the likes of…
