The European Commission has agreed, subject to conditions, to the merger of the consumer components of pharmaceutical companies GlaxoSmithKline (GSK) and Pfizer. The merger will include the well-known painkillers Advil and Panadol under one roof. Pfizer must, however, dispose of the ThermaCare brand, known for its heat compresses, for example, to a party approved by Brussels.

According to the committee, there was a risk of a lack of competition with products against acute pain, which could lead to price increases for consumers. With the sale of ThermaCare, that problem has been tackled, concludes Brussels.

The British GSK and the American Pfizer announced at the end of last year that they wanted to bring their consumer health divisions together in a new company. The partnership must be listed on the stock exchange within three years. GSK receives 68 percent of the new company with the American company Pfizer. The merged company will have a turnover of 12.7 billion dollars.

Load More Related Articles
Load More By WeeklyNews staff
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Swiss ski season will never be the same: the odd rules for tourists and sportsmen are here

The winter sports season has officially started again and unlike last year, most European …