GlaxoSmithKline (NYSE:GSK) announces that it will separate its consumer healthcare business into a standalone company (with Pfizer).
It says the split, to occur over a two-year
timeframe, should deliver £0.7 billion of annual savings by 2022 with
improved operating performance.
One-time costs to prepare for the separation should be £600M-700M.
Shares down 3% premarket after its Q4 miss.
https://seekingalpha.com/news/3538453-glaxo-to-spin-out-consumer-business
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