GSK grabs control of its Consumer Healthcare JV
UK drugmaker GlaxoSmithKline (LSE: GSK) is to pay $13 billion to Novartis (NOVN: VX) for the Swiss pharma giant’s 36.5% share in the Consumer Healthcare Joint Venture between the companies.
The announcement, which sent shares in GSK up by 6% in Tuesday morning’s trading to £13.70, comes just days after the London-based company ended its interest in acquiring US drug giant Pfizer’s (NYSE: PFE) consumer healthcare business.
"The choice of which one to acquire might have been more related to the divestment of overlaps that would have been mandated, rather than the price"
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