5 March 2019 - Deborah Wilkes
The planned joint venture between GlaxoSmithKline (GSK) and Pfizer is the winner of the 2019 OTCToolbox Consumer Healthcare Industry (CHi) Award for Transaction of the Year.
The deal is the clear winner of this CHi Award, with eight out of the nine judges rating it the best transaction.
“A strategically significant deal to create the number one consumer healthcare company globally,” was how one of our judges described the planned joint venture.
A second judge remarked the joint venture was an “industry game changer”, while a third said it had the potential to be “truly transformational for the company and the consumer healthcare industry as a whole”.
The best in business development
The OTCToolbox CHi Awards honour the best in business development and innovation around the world.
Winners of the CHi Awards were decided by a panel of highly-experienced executives in the consumer healthcare field. The panel for the three CHi Awards included representatives from Bannert Manlik Consultants, Bunniss Associates, Ceuta International, Diapharm, Euromonitor International, Healthy Brands, Innovation Fixer, IQVIA, Plexus Ventures, Present Value and Roland Berger, as well as OTCToolbox and the PLG.
In December 2018, GSK and Pfizer announced they had agreed to combine their consumer healthcare businesses into a “world-leading” joint venture with combined annual sales of around GBP9.8 billion (USD12.7 billion).
According to GSK, the proposed joint venture will be the global leader in OTC products with a market share of 7.3%. The company noted the nearest competitor had a share of 4.1%.
GSK will have a majority controlling equity interest of 68% in the joint venture, with Pfizer holding the remaining 32%.
Transaction of the Year was one of three CHi Awards presented during the 4th OTCToolbox/PLG OTC Conference and Networking Event held in London, UK, on 28 February and 1 March 2019. The other two CHi Awards were Business Development Team of the Year (click here to read the News story) and Innovation of the Year (click here to read the News story).
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