As GlaxoSmithKline readies a spin-off of its consumer healthcare business, the company is looking to shed certain parts of its portfolio.
Sources told Reuters that the drugmaker is working with an investment firm to find buyers for three different bundles of non-core drug portfolios. According to the sources, GSK sent off packages of information on some of its Latin American drugs and skin care products to prospective buyers. The company also wants to sell a part of its EU drug business.
Later this year, GSK is hooking up with Pfizer to create a new consumer products venture. Ultimately, the long-run plan for GSK is to split into two distinct companies — one focused on consumer goods and the other on pharma.
Read the Reuters report.