Wednesday , January 27 2021

Global hefty millionaire is born in healthcare business

(ANSA) – laboratories GlaxoSmithkline and Pfizer Decided to create a "joint venture" (strategic business association) in the segment of over-the-counter drugs and long-term consumer products. This operation shows the birth of a global hefty in health consumption, with a total billing of $ 12,700 million. Glaxo will have a 68% control stake in the new entity and plans to go public in the next three years.

The contract should be closed in the second half of 2019 and Glaxo said, it paves the way for divisions in two companies, focuses on one's drugs and vaccines, and focuses in other consumer health departments.

Last year, companies sold 12.7 billion dollars last year. Once drugmakers once thought of controlling each corner of the home cabinet cabinet with treatment for cancer and cardiovascular disease from personal care items.

However, large pharmaceutical companies are focusing on the development of new high-quality drugs based on cutting-edge research in genetics and other fields. In addition, the investigation of new therapies has increased, but the insurance companies and governments want lower prices.

Meanwhile, due to the growing power and competition of companies like Amazon and Wal-Mart, profits for many consumer companies have decreased. During the past year, this pressure has led to exceptional combinations of pharmacy operators, health insurance companies and online retailers. At the same time, other companies that hold many conditions on health care are coming out. The most recent was the General Electric, who requested the secrecy of its health line. However, these two giants want to keep everything. Or maybe, it has already received it.

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