Novartis AG, GlaxoSmithKline Reshape Pharma With Game-Changing $14.5 Billion Deal

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Two of the world's largest pharmaceutical companies have joined forces to create a joint venture, with GlaxoSmithKline (GSK) and Swiss firm Novartis agreeing to create a new consumer healthcare business. Novartis said on Tuesday it had agreed to acquire GSK's oncology products for $14.5 billion, plus an additional $1.5 billion contingent on a development milestone. GSK, meanwhile, will pay $7.1 billion plus royalties for Novartis' vaccines business, excluding its flu business, Novartis said. The GSK and Novartis joint consumer healthcare venture will generate approximately £6.5 billion ($10.9 billion) in annual sales, according to GSK.

Help employers find you! Check out all the jobs and post your resume.

Read more at Reuters.

Back to news