Earlier this year--in the space of one week in April--we announced two major agreements that will be critical in the continuing transformation of our business. By acquiring Stiefel Laboratories, GSK will assume a global leadership role in the specialty dermatology business, an area of critical healthcare importance.
Just days before the Stiefel announcement, GSK and Pfizer announced an agreement to create a new world-leading HIV company focused solely on research, development and commercialization of HIV medicines.
These are both promising new business opportunities that align with our CEO Andrew Witty's stated goal to consider innovative and targeted acquisitions and collaborations that make good financial sense for our shareholders--but also best serve patients.
You haven't heard much about these deals since the spring (in large part due to limits on what we can communicate until the transactions close), but be assured that major effort is going on behind the scenes to ensure the new organizations are ready to go on day one.
Pulling off strategic integrations requires long-hours of intense work by talented teams from every part of the organizations involved. The complexities can be extraordinary--integrating systems of all kinds from IT to HR to field sales groups, important determinations on key positions and management structure, agreement on strategic business plans, etc. All the while taking into the utmost care and consideration how these decisions will impact our patients, customers, employees and all the stakeholders touched by these sizable businesses--including the communities where they reside.
(Getting something like this post approved wasn't easy either--legions of folks at three different companies had to sign off.)
And all this occurs while the businesses themselves must continue to roll along fluidly--and independently--without a hitch. Stay tuned for further updates on the close of these transactions.
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