Deals
Pfizer Eyes IPO of Glaxo Consumer Venture in 3 to 4 Years
- Pfizer and partner look to focus on prescription drugs
- Joint venture is world leader with brands like Advil, Tums
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Pfizer Inc. is planning an initial public offering of its consumer-health joint venture with GlaxoSmithKline Plc in three to four years as the two drugmakers turn back toward the lab.
Pfizer Chief Executive Officer Albert Bourla discussed the time frame for the IPO at the J.P. Morgan Healthcare Conference in San Francisco on Tuesday. The plan provides New York-based Pfizer with a clear exit strategy, he said.