A new market leader in a range of OTC healthcare categories has been announced
Pharmaceutical giants Pfizer and GSK have confirmed they have closed the transaction to create a new consumer healthcare joint venture.
The combined brand portfolio makes GSK Consumer Healthcare the world’s largest OTC business with leadership positions in Pain Relief, Respiratory and Vitamins, Minerals and Supplements and Therapeutic Oral Health, it said in a statement.
“Globally, the Joint Venture is a transformative move for GSK Consumer Healthcare that drives scale and brings together fantastic brands including GSK’s Sensodyne, Voltaren and Panadol and Pfizer’s Advil and Centrum,” GSK said in the statement.
“Together the new joint venture is also set to be the number 1 OTC business in Australia and NZ”.
In addition, it has been announced that Andrew Jenkin has been appointed as general manager GSK Consumer Healthcare, ANZ.
Mr Jenkin, formally general manager, Pfizer Consumer Healthcare ANZ, joined that company in 2017 from Bayer Consumer Care ANZ where he was head of marketing.
He will be responsible for leading the new Joint Venture business across Australia and New Zealand, guiding strategy across a portfolio of some of the world’s most trusted and best-selling brands.
“It’s exciting to be bringing two businesses with such positive momentum together,” he said.
“We have an extremely talented team and great brands, and by partnering closely with our customers and industry I believe we can have an even more positive impact on the health and wellbeing of our consumers in Australia and New Zealand.
Although the transaction has closed globally, GSK Consumer Healthcare ANZ and Pfizer Consumer Healthcare ANZ remain separate businesses for the time being, which means there is no immediate change to the way we operate in Australia or NZ,” he said.