Major GSK, Novartis deal
April 23, 2014
UK company GlaxoSmithKline plc
(GSK) has announced a three part
transaction with Novartis AG.
This involved GSK buying Novartis’
global vaccines business, excluding
influenza vaccines, for an initial
US$5.25b with further potential
milestone payments of up to
US$1.8b, GSK said.
This includes the addition of
Bexsero, a new vaccine for the
prevention of meningitis B, to GSK’s
business.
GSK said it would divest its
oncology portfolio and related R&D
activities and rights with relation
to its AKT inhibitor, as well as grant
of commercialisation partner rights
for future products, to Novartis
for US$16b, with up to US$1.5b
dependent on the results of the
COMBI-d trial.
The transaction would see the
two companies build a Consumer
Healthcare business with GSK
having majority control at 63.5%,
with GSK ceo Sir Andrew Witty
saying the companies would create
the world’s premier OTC business.
The company expected to return
around AUD$7.2b to shareholders
at the transaction’s completion, he
said.
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