Who owns glaxosmithkline

While completion of the transaction with Pfizer has taken place today, there are certain jurisdictions in which the transfer of relevant assets to or by GSK will only take place following receipt of additional market-specific approvals or other matters relevant to those jurisdictions. The arrangements in relation to these jurisdictions are considered immaterial in the context of the transaction.

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions.

These forward-looking statements include matters that are not historical facts. The forward-looking statements in this announcement include, but are not limited to, statements regarding GSK's intentions, beliefs or current expectations concerning, among other things, GSK's business, results of operations, financial position and strategies. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of GSK's operations and financial position may differ materially from those described in, or suggested by, the forward-looking statements contained in this announcement.

Beginning in with the opening of an apothecary shop in London, our story has always focused on innovation. In this period, our legacy companies expanded globally, developing and selling new products worldwide. An era of landmark scientific breakthroughs, building brand portfolios and product consolidation. An exciting period of discovery: we developed the first treatment for HIV, enhanced our consumer brands and developed new treatments for asthma. With our three global businesses of Pharmaceuticals, Vaccines and Consumer Healthcare, we aim to bring differentiated, high-quality and needed healthcare products to as many people as possible.

Despite progress to fight malaria millions continue to suffer. On July 31, , Pfizer Inc. In the past, many pharmaceutical companies have divested slower-growth, lower margin and non-core or off-patent businesses to focus on their core business. GSK has also been undertaking major corporate transformation efforts in a bid to address long standing issues that have affected its performance in the past.

Since the leadership change in , GSK has been sought to align itself as a biopharma company. The company expects a strong drug pipeline, backed by strong research and development expenses to drive sustainable, long-term growth for the pharmaceutical business.

As part of restructuring efforts, GSK and Pfizer merged its consumer healthcare business with that of in During the JV formation, GSK had indicated that the unit would be spun-off as a separate company within the next three years, and we think the recent announcement is a step in that direction. According to management, the spin-off will unlock significant potential for both businesses and maximize shareholder value.

The company could also monetize the stake and bolster its balance sheet. We believe the separation could be a trigger for driving improved share price appreciation, given that the stock has underperformed peers historically. GSK cited the opportunity cost from the immense profit and cash generation potential of the consumer healthcare unit as well as higher expenses in the form of taxes in case of a sale as compelling reasons for the spin-off.

The company has also claimed that some of its major shareholders support the spin-off deal. We believe the deteriorating performance at the largest segment may have triggered the need to refocus on the biopharma business. Moreover, the failure to come out with a COVID vaccine despite being one of the largest vaccine producers, may have led to investor disappointment.

Moreover, the company aims to prioritize research and development and commercial investment in vaccines and specialty medicines, which are expected to grow to around three-quarters of company sales by E. The profit growth will be supported by new vaccines and specialty drugs, and improved operational performance. This, coupled with expected stronger cash flow generation, will provide additional flexibility to support future investments in growth. In 1Q , the company announced that 59 vaccines and medicines were in the pipeline, focusing mainly on infectious diseases, oncology and immune-mediated diseases.