Trading Ideas
Pfizer Eyes IPO of Glaxo Consumer Venture in 3 to 4 Years
(Bloomberg) — 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.The world’s biggest supplier of over-the-counter medicines will be one of the industry’s only standalones, facing off with companies integrated into larger entities such as Johnson & Johnson, Bayer AG and Procter & …read more […]