GlaxoSmithKline bolstered the company’s cancer drug development pipeline, agreeing to pay up to 3.7 billion euros ($4.2 billion) to Merck KGaA for the rights to a next-generation immunotherapy.

GlaxoSmithKline Chairman Sir Philip Hampton will step down from his role ahead of the company’s plan to split into two separate business units.

GlaxoSmithKline Plc will actively look to buy early-stage assets and partner with companies, the drugmaker’s chief executive officer said.

GlaxoSmithKline plans to split into two businesses – one for Rx drugs and vaccines, and the other for OTC products – after forming a new joint venture with Pfizer’s consumer health division.

Bayer will cut 12,000 jobs as the company prepares a business overhaul, including an exit from the animal health division.

GlaxoSmithKline is seeking initial bids by mid-September for the company’s India-focused Horlicks health nutrition business, which is expected to fetch more than $4 billion, two people familiar with the situation said.

Perrigo Co. Plc will separate the company’s generics prescription business – which has been a drag on results – to focus on consumer healthcare following a strategic review, sending the drugmaker’s shares down about 8 percent.

Pfizer Inc. reported solid second-quarter 2018 financial results, with total company revenues up two percent operationally.

GlaxoSmithKline aims to turbo-charge the company’s drug discovery engine with a big bet on genetics as its CEO played down the idea of hiving off consumer healthcare.

Pfizer Inc. announced that the company will organize into three businesses: Innovative Medicines, Established Medicines, and Consumer Healthcare.