For instance, in August 2019, GSK and Pfizer (NYSE:PFE) merged their consumer healthcare unit into a new joint venture, with GSK owning a controlling stake of 68% in the venture. However, the company is planning a change with its consumer unit. The company plans to split itself into two standalone companies.
The new company, under GSK, will be a biopharma company focusing on developing new treatments. GSK is going to separate its consumer healthcare segment into a standalone company next year. The spin-off will allow GSK to focus on drug development.