GlaxoSmithKline and Pfizer said Wednesday they have reached a deal to combine their consumer health businesses in a joint venture that will boast combined sales of $12.7 billion.
Under the terms of the agreement, which still requires shareholder and regulatory approval, GSK will have a majority controlling equity interest in the joint venture with 68 percent and Pfizer will have the remaining 32 percent stake.
The transaction is expected to close during the second half of 2019.
