GlaxoSmithKline and Pfizer's planned joint venture received conditional approval from a South African regulator. This comes ahead of GSK's plans to to sell consumer health drugs for $1.2 billion. clearing a hurdle in the creation of a consumer health giant with sales of 9.8 billion pounds ($12.38 billion).
According to the Competition Commission of South Africa, the deal was not likely to reduce competition but it would effect local pharmaceutical manufacturers for Pfizer. The regulator has urged both organizations to continue using South African manufacturing and packaging services firm Spechpharm Holdings for three years.
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