PP_1170x120_10-25-21

joint venture

GlaxoSmithKline, Pfizer close joint venture

GlaxoSmithKline, Pfizer close joint venture

WARREN, N.J. — GlaxoSmithKline said Thursday that it has closed a previously announced joint venture deal with Pfizer Inc. that will combine their respective consumer healthcare businesses. The move will create the world’s largest supplier of over-the-counter medications. The joint venture company will operate as GSK Consumer Healthcare. Pfizer owns a 32% equity stake in