GlaxoSmithKline PLC (NYSE:GSK) is one of the biggest pharmaceuticals companies in the world. The firm, which has a focus in HIV, vaccines, and cancers, is seeing a lot of success with new drugs and plenty more in the pipeline. Better yet, the stock is still very undervalued, which is why investors should consider adding it to their portfolios.GlaxoSmithKline PLC (GSK) ranks as one of the largest firms by total sales in the pharmaceutical industry. The company wields its might across several therapeutic classes, including respiratory, oncology, antiviral, vaccines, and consumer healthcare products. GSK uses joint ventures to gain additional scale in specific markets like HIV and consumer products.
For instance, in August 2019, GSK and Pfizer (NYSE:PFE) merged their consumer healthcare unit into a new joint venture, with GSK owning a controlling stake of 68% in the venture. However, the company is planning a change with its consumer unit. The company plans to split itself into two standalone companies.
The new company, under GSK, will be a biopharma company focusing on developing new treatments. GSK is going to separate its consumer healthcare segment into a standalone company next year. The spin-off will allow GSK to focus on drug development.