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GlaxoSmithKline plc announced a major 3-part inter-conditional transaction with Novartis

Date：2014-04-23 【Size：Big Middle Small】

GlaxoSmithKline plc yesterday announced a major 3-part inter-conditional transaction with Novartis AG involving its Consumer Healthcare, Vaccines and Oncology businesses (the “Transaction”). In summary:

GSK and Novartis will create a new world-leading Consumer Healthcare business with 2013 pro forma revenues of ￡6.5 billion. GSK will have majority control with an equity interest of 63.5%.
GSK will acquire Novartis’ global Vaccines business (excluding influenza vaccines) for an initial cash consideration of $5.25 billion with subsequent potential milestone payments of up to $1.8 billion and ongoing royalties.

GSK will divest its marketed Oncology portfolio, related R&D activities and rights to its AKT inhibitor and also grant of commercialisation partner rights for future oncology products to Novartis for an aggregate cash consideration of $16 billion (of which up to $1.5 billion depends on the results of the COMBI-d trial).

News above form GlaxoSmithKline‘s website

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GlaxoSmithKline plc announced a major 3-part inter-conditional transaction with Novartis