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  • Conversation: GSK to buy-out Novartis’ stake in consumer health JV

    • March 27, 2018 11:45 AM BST
    • GSK to buy-out Novartis’ stake in consumer health JV

      GlaxoSmithKline is buying Novartis’ stake in the firms’ consumer healthcare unit, the announcement coming just days after the drug giant said it would not pursue acquisition of Pfizer’s consumer healthcare business.
      The UK drugmaker said it is buying Novartis’ 36.5-percent stake in the JV for $13 billion, securing full control of the business, which was established as part of a three-part transaction between GSK and Novartis approved by shareholders in 2014.
      Under the terms of the original deal, Novartis holds the right, exercisable from 2 March 2018 to 2 March 2035, to require GSK to purchase its stake (or specified tranches of it) in the JV.
      Read more: http://www.pharmatimes.com/news/gsk_to_buy-out_novartis_stake_in_consumer_health_jv_1229403

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