Pharma major, Pfizer Limited has formed a JV or joint venture with GlaxoSmithKline to set up a premier global consumer healthcare company. The two companies have unanimously approved the transaction under which the former will contribute its consumer healthcare business to the latter’s existing consumer healthcare biz.
Pfizer Limited in Thursday’s intra-day made a day’s high of Rs. 2,959.10 on the NSE, rising over 3 percent during morning deals. However, when trade progressed during afternoon hours, it trimmed its early gains accrued and the stock was trading moderately up by 0.0e percent at Rs. 2880 on the NSE.
Meanwhile, Sensex and Nifty were trading lower, tracking global markets, after Federal hiked interest rate. The Nifty50 of the NSE was trading down 29 points at 10,937, while the BSE Sensex fell 80 points at 36,404.