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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.

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