GlaxoSmithKline (GSK) confirms it has withdrawn from the process relating to Pfizer’s (PFE) Consumer Healthcare business. Emma Walmsley, CEO, GSK said: “While we will continue to review opportunities that may accelerate our strategy, they must meet our criteria for returns and not compromise our priorities for capital allocation.” The Fly notes that Reckitt Benckiser (RBGLY) pulled out of the bidding for Pfizer’s Consumer Healthcare unit earlier this week, stating that an acquisition for the whole business “did not fit” its acquisition criteria and an acquisition of part of the business “was not possible.”
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