Novartis Makes $27B+ Worth of Deals with GSK, Lilly

Novartis launched the long-awaited restructuring of its business on Tuesday, with several multibillion-dollar deals with GlaxoSmithKline and Eli Lilly & Co.

The deals include:

• Novartis will buy GSK’s Oncology business for $14.5 billion upfront, plus up to $1.5 billion more if certain milestones are met.

• Novartis will sell its Vaccine business, excluding the flu portion, to GSK for $7.1B, plus royalties.

• Novartis will sell its Animal Health business to Eli Lilly for roughly $5.4B.

• Additionally, GSK and Novartis are creating a new Consumer Health Care business through a joint venture that will combine Novartis’ over-the-counter drug business with GSK’s consumer business. Novartis will own 36.5% of the new "GSK Consumer Healthcare" venture, leaving GSK with 63.5% and managerial control.

Read the Boston Globe story here

More News:

All news »

What are your comments?

You cannot post comments until you have logged in. Login Here.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments