GSK withdraws from $20b Pfizer consumer health assets' race

GSK withdraws from $20b Pfizer consumer health assets' race

The Pfizer logo is seen at their world headquarters in New York April 28, 2014. REUTERS/Andrew Kelly

GlaxoSmithKline has withdrawn from the race to buy Pfizer‘s consumer healthcare business, the British drugs company said on Friday, endangering an auction for an asset some said could fetch as much as $20 billion.

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