On December 19, 2018, GlaxoSmithKline ( NYSE: GSK ) and Pfizer ( NYSE: PFE ) announced the two companies would merge their consumer healthcare businesses in a JV that will be spun off within the next 3 years. GlaxoSmithKline will own a controlling ownership of 68%, and Pfizer will own 32% of the JV. This is an all-cash deal that is set to create the world's largest OTC drug company.