Consumer Health & Safety Division of GSK is a leading provider of consumer healthcare services
Unilever, a consumer goods company, has reached an agreement with GlaxoSmithKline after a newspaper claimed that the offer was rejected.
GSK declined to comment on its plan to list the business separately on the London Stock Exchange this year.
Pfizer, a pharmaceutical company that owns a 32% share in a consumer goods business, is a market leader in Sensodyne and parodontax toothpaste, painrelief treatments Advil, Voltaren, and Panadol, Otrivin nasal spray, cold and flu medicine Theraflu and Centrum vitamins.
In a bid to complete the 2019 contract, GSK and Pfizer have consolidated their consumer health business.
The previous year, GSK had reached an agreement to purchase full control of a consumer health program with Novartis, a Swiss medicine company.
As one of the world's leading over-the-counter healthcare corporations, they have held a lead in markets including the United States, India, and Germany.
Johnson & Johnson, Bayer, and Sanofi are among the nations' rivals.
In 2020, the company raised ten billion pounds ($13.7 billion).
That year, GSK, whose two other major divisions are pharmaceuticals and vaccinations, grew to 34 billion pounds.
When the company is shut off, Dave Lewis, a former chief executive of Tesco, has been appointed to lead the business.
Brian McNamara will be its new chief executive, a position he has held since 2016 in the company as a part of GSK.
The demerged company is planning to build a new headquarters at Weybridge in southern England.
($1 = 0.7314 pounds)