Big Pharma Cures Its Consumer Headache by Splitting Off Painkillers
- Glaxo consumer deal with Pfizer puts pressure on rivals
- Drugmakers separating consumer businesses to focus on R&D
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It looks like the marriage between toothpaste and prescription drugs has run its course.
GlaxoSmithKline Plc on Wednesday announced plans to split up by creating a consumer-health venture with Pfizer Inc., cleaving brands like Sensodyne and Aquafresh from medicines for HIV and asthma. Chief Executive Officer Emma Walmsley’s resolve to break off the unit she used to lead sends a strong signal to others in the pharma industry: bulk up or get out.