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Novartis in $28.5bn+ mega-deal with GSK, Lilly

 
• By Eleanor Malone

Novartis has announced a major upheaval of its business, which will transform its portfolio and also that of GlaxoSmithKline, and to a lesser extent, that of Lilly. Novartis is to divest its vaccines business to GSK, while GSK will transfer its oncology products to Novartis. The two companies will combine their over-the-counter and consumer healthcare businesses in a joint venture. Separately, Novartis is divesting its animal health business to Lilly.

Novartis has announced a major upheaval of its business, which will transform its portfolio and also that of GlaxoSmithKline, and to a lesser extent, that of Lilly. Novartis is to divest its vaccines business to GSK, while GSK will transfer its oncology products to Novartis. The two companies will combine their over-the-counter and consumer healthcare businesses in a joint venture. Separately, Novartis is divesting its animal health business to Lilly.

Novartis's CEO Joe Jimenez has been talking for some time about the need to make a strategic plan for certain...

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