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GSK Drops Out Of Auction For Pfizer's Consumer Health Unit

 
• By Lucie Ellis-Taitt

The acquisition of Pfizer's consumer health business, which includes big named products such as Advil painkillers and Centrum multivitamins, has proven too big and too costly for GSK investors to stomach.

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GSK has turned tail on the idea of bidding for Pfizer's consumer health unit

GlaxoSmithKline PLC has bowed out of the auction for Pfizer Inc.'s consumer health business – it’s a good move by the UK giant, which recently laid out a strategy that focused on growth in pharmaceuticals.

While a mammoth acquisition in the over-the-counter sector would fit GSK's modus operandi, consumer health units are struggling in the current climate and the idea of a mega deal disturbed...

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