Leading global law firm Baker McKenzie advised Pfizer in in its multijurisdictional restructuring and implemented its joint venture in Mexico with GlaxoSmithKline Consumer Healthcare Holdings Ltd. The combination results in a world-leading consumer healthcare business.
The JV brings together two complementary portfolios of trusted consumer health brands, including GSK’s Sensodyne, Voltaren and Panadol and Pfizer’s Advil, Centrum and Caltrate, among others. The combined brand portfolio forms the world's largest over-the-counter business with leadership positions in pain relief, respiratory, vitamins, minerals and supplements, and therapeutic oral health. The combined product portfolio generates annual sales of more than USD 11 billion. Under the terms of the transaction, Pfizer owns a 32% equity stake in the joint venture and GSK owns 68%.
The combined business, will operate globally as GSK Consumer Healthcare and will hold the number one over-the-counter position in the U.S. and the number two over-the-counter position in China.
The Baker McKenzie team was led by Erik Gutierrez Zuñiga and Guillermo Rojas Montiel and also included Juan Riestra Ramírez and Daniel Chavez Angeles.