RESEARCH TRIANGLE PARK – GlaxoSmithKline says it’s no longer interested in buying Pfizer Consumer Healthcare.
GSK was seen as the front-runner for the Pfizer group after rival Reckitt Benckiser dropped out on Wednesday.
“While we will continue to review opportunities that may accelerate our strategy, they must meet our criteria for returns and not compromise our priorities for capital allocation,” said Emma Walmsley, GSK’s chief executive officer, in a statement issued early Friday.
Both Pfizer and GSK have operations in North Carolina.
A deal had been expected to be worth as much as $20 billion.
So who might be a buyer now?
“It was not immediately clear whether there were other offers for the business, which includes Advil painkillers and Centrum vitamins, following this week’s deadline for binding bids,” Reuters reported.
