GSK as well renounces to acquire Pfizer’s Consumer Health arm

GlaxoSmithKline informed this morning in a short, concise press release that it will pull out of the process to acquire Pfizer’s Consumer Health division. CEO Emma Walmsley added that the group will keep reviewing other opportunities consistent with its strategy, not compromising its financial stability.  Investors have welcomed the news and GSK’s shares have soon earned over 3% in few minutes (London). GSK’s competitor Reckitt Benckiser yesterday announced it would renounce to target Pfizer’s division, leaving GSK the only significant bidder for the asset.

(Source: GSK)