01 Aug 2019 --- GlaxoSmithKline (GSK) has completed its transaction with Pfizer to combine their consumer healthcare businesses into what they tout as a “world-leading joint venture.” This unites two highly complementary portfolios of consumer health brands, including GSK’s Sensodyne, Voltaren and Panadol and Pfizer’s Advil, Centrum and Caltrate. The venture is expected to realize annual cost savings of £0.5 billion (US$06bn) by 2022 for expected total cash costs of £0.9 billion (US$1bn) and non-cash charges of £0.3 billion (US$0.3bn). Up to 25 percent of the cost savings are intended to be reinvested in the business to support innovation and other growth opportunities.
