Novartis, GSK in asset-swap deal
Print Edition
NOVARTIS and GlaxoSmithKline traded over US$20 billion worth of assets yesterday, aiming to bolster their best businesses and exit weaker ones as the drugs industry reshapes to cope with healthcare spending cuts and generic competition.
The deals, which include Novartis buying GSK’s cancer drugs and GSK acquiring Novartis’ vaccines business, came hot on the heels of a newspaper report that AstraZeneca had turned down a US$101 billion bid approach from Pfizer.
The global pharmaceuticals industry has seen a flurry of dealmaking recently as most large companies seek to focus on a small number of leading businesses, while smaller specialty and generic producers seek greater scale.
Deal values have almost doubled since the start of the year to US$77.9 billion compared with the same period in 2013, according to Thomson Reuters data.
The overhaul at Novartis marks the end of a yearlong review of its sprawling portfolio after the departure of long-time CEO and Chairman Daniel Vasella, the architect of the merger of Ciba-Geigy and Sandoz which led to Novartis’ formation in 1996.
The Swiss firm said it had agreed to buy GSK’s oncology products for US$14.5 billion plus another US$1.5 billion that depends on the results of a trial in melanoma. The deal will boost Novartis’s world No. 2 position in cancer behind cross-town rival Roche.
Novartis said it was also selling to GSK its vaccines, excluding flu, for US$5.25 billion plus potential milestone payments of up to US$1.8 billion and ongoing royalties, as well as creating a joint venture with GSK in consumer healthcare.
In addition, it is selling its animal health arm to Eli Lilly for about US$5.4 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
