Novartis in $28.5bn+ mega-deal with GSK, Lilly
This article was originally published in Scrip
Novartis has announced a major upheaval of its business, which will transform its portfolio and also that of GlaxoSmithKline, and to a lesser extent, that of Lilly. Novartis is to divest its vaccines business to GSK, while GSK will transfer its oncology products to Novartis. The two companies will combine their over-the-counter and consumer healthcare businesses in a joint venture. Separately, Novartis is divesting its animal health business to Lilly.
You may also be interested in...
Antibody developer Harbour Biomed signs its first deal for rights outside China in cancer pact with Kelun. Portage buys SalvaRx to increase its immuno-oncology capabilities, while Paragon spinout Emalex will take over Psyadon’s pediatric Tourette syndrome program.
GSK removed some uncertainty about how much it could invest in pharma R&D and business development by purchasing Novartis' share of the firms' Consumer Healthcare Joint Venture. Now it can more accurately allocate capital as it prepares for battle in HIV and braces for Advair generics.
GlaxoSmithKline focused on three upcoming launches for its pharmaceutical business during its Q3 update, during which CEO Emma Walmsley also speculated briefly about acquiring Pfizer's consumer health business.