Company News 

GSK income unstable despite Pfizer withdrawal

GSK income unstable despite Pfizer withdrawal

US pharma giant Pfizer has failed to find a UK home for its portfolio of over-the-counter medicines and health products. GlaxoSmithKline(GSK) and Reckitt Benckiser (RB.) have both pulled their bids for the consumer healthcare business amid concerns that the prospective $20bn (£14bn) price tag didn’t match management’s acquisition criteria. It’s bad news for Pfizer (which needs the cash), but good news for GSK and Reckitt shareholders, who had expressed concerns regarding the enormous capital commitment of the acquisition.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now