GSK buys out Novartis in $13 billion shake-up

Updated:8 years, 3 months ago

New Delhi, Mar 28 (ANI): GlaxoSmithKline said on Tuesday it will buy Novartis's 36.5 percent stake in their consumer healthcare joint venture for $13 billion in cash, and will also begin a strategic review of ome other businesses. GSK's CEO says the deal will boost adjusted earnings and cash flows, helping advance efforts to improve performance. While Switzerland's Novartis says the timing was right to divest a non-core asset.

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GSK buys out Novartis in $13 billion shake-up

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