GlaxoSmithKline (NYSE:GSK) has long gone by its acronym GSK. Now, the abbreviation is the company’s official name.
GlaxoSmithKline had announced its plan to change the name in an earnings announcement in April 27.
The London Stock Exchange and the New York Stock Exchange will update the company’s name in “due course,” as the company explained in a news release.
GlaxoSmithKline got its name from the 2000 merger of Glaxo Wellcome and SmithKline Beecham. In that deal, Glaxo Wellcome paid $75.7 billion to acquire its then competitor, creating what WSJ called in 2000 the “world’s No. 1 drugmaker.”
Now, GSK is in the process of creating a consumer health spinoff known as ‘Haleon.’
GSK’s consumer segment makes an array of products, including Centrum vitamins, Sensodyne toothpaste, and the pain-reliever brands Excedrin, Advil and Panadol.
The company’s decision to simplify its name reflects a broader trend in the pharma industry.
Sanofi Genzyme and Sanofi Pasteur brands have restructured to take on the name of their parent, Sanofi. The company has also debuted a new logo.
In 2020, Seattle Genetics rebranded as Seagen.