Johnson & Johnson on May 11 appointed Thibaut Mongon as the chief executive officer of the consumer health division, which the pharmaceutical giant plans to spin off into a listed company by the end of 2023.
Sanofi reported a series of first-quarter 2022 wins, driven mostly by the success of consumer healthcare (CHC) and the company’s blockbuster Dupixent.
GlaxoSmithKline exceeded expectations for the company’s first-quarter 2022 sales and earnings forecasts. This was largely driven by GSK’s sales of Xevudy, an antibody treatment against COVID-19 it developed with Vir Biotechnology, and the company’s Shingrix vaccine against shingles.
GlaxoSmithKline’s consumer healthcare venture with Pfizer will be named Haleon, as the British drugmaker confirmed the business will be spun off in mid-2022 as planned after having rejected overtures from Unilever.
Britain’s GSK forecast growth in 2022 after racking up 1.4 billion pounds ($1.9 billion) in COVID-related sales in 2021, beating quarterly forecasts in the company’s first earnings report since rejecting Unilever’s bid for GlaxoSmithKline’s consumer arm.
After a rejection from GlaxoSmithKline on a proposed £50 billion (about $68 billion) buyout of GSK’s consumer healthcare business, Unilever announced that the global consumer product giant will not increase its bid.
GlaxoSmithKline declined all three of Unilever’s offers to acquire GSK’s consumer healthcare business, saying the proposal undervalued the division’s present and further worth.
Amgen Chief Executive Officer Robert Bradway is excited about 2022. During his presentation at the J.P. Morgan Healthcare Conference, Bradway said things are lining up for long-term growth for the California-based company.
Mega-company Johnson & Johnson is planning to break off its consumer products business from J&J’s pharmaceutical and medical device businesses, becoming two publicly traded companies.
Shares of GlaxoSmithKline climbed in trading on rumors that the consumer health business it intends to spin off into a separate company next year is attracting interest from venture capitalists.