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Glaxo to hold onto consumer healthcare division

Jul. 28, 2014 10:58 AM ETGSK plc (GSK) StockGSK, NVSBy: Douglas W. House, SA News Editor
  • Contrary to a Financial Times report, GlaxoSmithKline (GSK -0.8%) says that it has no plans to spin off its consumer healthcare division according to Bloomberg.
  • It is proceeding with a JV with Novartis (NVS -0.8%) to create a consumer health company with ~6.5B pounds ($11B) in annual revenue. The transaction won't close until next year, though.

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