Ownership Split of Joint Venture: GSK 68%, Pfizer 32%

Proforma 2017 Sales Of Combined Consumer Group: £9.8bn ($12.7bn)

GSK: $9.2bn

Pfizer: $3.5bn

Creates the world's leading OTC company, with 7.2% market share

2017 Consumer Health Business Operating Margins:

GSK 17.6%

Pfizer 17.3%

New CEO: Brian McNamara, current head of GSK Consumer Healthcare

FUTURE OUTLOOK

Completion Date: Second half 2019

Demerger via UK listing within three years

2022 Forecast Operating Margin %: mid-20s

Cost synergies: £0.5bn annually by 2022

Total cash costs of deal: £0.9bn

Non-cash charges: £0.3bn

Anticipated Proceeds From Asset Divestments, to cover costs: £1bn

Initial Net Debt Ratio Post-Separation:

3.5-4.0 X aggregate adjusted EBITDA for JV's last four quarters

Pfizer Consumer Combo Deal Frees Capital For GSK Pharma Investment

More from Deals