Glaxo Announces Acquisition of Tesaro While Also Finalizing Consumer Healthcare Asset Sale
GlaxoSmithKline announced the acquisition of Tesaro along with the finalized details of its divestment of consumer healthcare products, neither of which has a major impact on our fair value estimate. Despite the market moving Glaxo's stock price significantly lower following these announcements, we expect to keep our fair value estimate largely the same. The stock looked undervalued even before these announcements; we believe the market is underappreciating the company's solid positioning across...GlaxoSmithKline is a global healthcare company. Co.'s segments include: Pharmaceuticals; Vaccines; and Consumer Healthcare. The Pharmaceuticals segment is focused on developing new medicines in respiratory, HIV, oncology and immuno-inflammation, with discovery research exploring these and other areas. The Vaccines segment has a portfolio and pipeline of vaccines to help protect people throughout life. Co. delivers vaccines to people living in over 160 countries. The Consumer Healthcare segment develops and markets consumer-preferred brands in oral health, pain relief, respiratory, nutrition/gastro-intestinal and skin health.
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