BioCentury
ARTICLE | Company News

GSK buying out Novartis' stake in consumer health JV

March 30, 2018 3:19 PM UTC

Novartis AG (NYSE:NVS; SIX:NOVN) is exiting its consumer healthcare JV with GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) by selling its 36.5% stake to GSK for $13 billion in cash.

Formed in 2014, the JV combined both companies' consumer health divisions. At the time, GSK said the move would solidify the second-place position of its consumer health business, which had $8.1 billion in sales in 2013 (see BioCentury, April 28, 2014)...

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