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People & Business :: M&A

Glaxo and Novartis announce major three-part business transaction

9:08 AM MDT | April 22, 2014 | Natasha Alperowicz

GlaxoSmithKline (GSK) today announced a major, three-part transaction with Novartis involving its consumer health-care, vaccines, and oncology businesses. GSK and Novartis, as part of the transaction, will create a new, world-leading consumer health-care business with 2013 pro forma revenues of £6.5 billion ($10.9 billion). GSK will have a 63.5% equity interest in the joint venture. Meanwhile, GSK will acquire Novartis’s global vaccines business, excluding influenza vaccines, for an initial cash consideration of $5.25 billion and subsequent potential...

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