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GSK Exercises Right To Buy Out Novartis Consumer Healthcare JV For $13bn

Executive Summary

GSK will buy Novartis’ 36.5% stake in the Consumer Healthcare Joint Venture, established in 2014, for $13bn (£9.2bn). It expects power brands to deliver operating margins approaching mid-20s by 2022. GSK will also initiate a strategic review of Horlicks and other consumer nutrition products to support transaction funding.

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