Panadol and Advil to merge

No Comments

Painkiller brands Panadol and Anadin/Advil will be bought under one roof under a giant deal between drug firms GlaxoSmithKline and Pfizer.

The firms are combining their consumer healthcare businesses into one firm with annual sales of US$12.7 billion.

Other brands involved in the deal include Aquafresh toothpaste and Chapstick lip balm.The deal still needs approval by shareholders and regulators.

Shares in GSK rose 7 per cent on the news.

GSK's consumer healthcare division used to operate as a joint venture with Swiss firm Novartis, but it acquired full control of the business nine months ago.