March 23, 2018 / 8:14 AM / 9 months ago

BUZZ-GlaxoSmithKline: pulls out of $20 bln race for Pfizer assets

** GlaxoSmithKline’s shares up 5.5 pct

** Withdraws from race to buy Pfizer’s consumer healthcare business, which the U.S. drugmaker believes could be worth as much as $20 billion

** GSK was seen as the front runner to buy the assets after its main rival Reckitt Benckiser quit the race on Thursday

** “While we will continue to review opportunities that may accelerate our strategy, they must meet our criteria for returns and not compromise our priorities for capital allocation,” Chief Executive Emma Walmsley said (harish.bhaskar.thomsonreuters.com@reuters.net)

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