Novartis: sells stake in consumer healthcare unit to GSK
(CercleFinance.com) - Novartis has entered into an agreement to sell to Britain's GSK its 36.
5% stake in its consumer healthcare joint venture for 13 billion dollars, the Swiss drugmaker said on Tuesday.
The sale of this "non-core" business will enable the company to focus on strategic priorities and the development of its core businesses, i.e. innovative drugs, biosimilars and eye care, Novartis said.
Also, the transaction's price reflected an "attractive value" for the group, it added.
The deal is expected to be completed in the second quarter.
Novartis shares were up 1.3% at 75.4 Swiss francs on Zurich's SIX market this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% stake in its consumer healthcare joint venture for 13 billion dollars, the Swiss drugmaker said on Tuesday.
The sale of this "non-core" business will enable the company to focus on strategic priorities and the development of its core businesses, i.e. innovative drugs, biosimilars and eye care, Novartis said.
Also, the transaction's price reflected an "attractive value" for the group, it added.
The deal is expected to be completed in the second quarter.
Novartis shares were up 1.3% at 75.4 Swiss francs on Zurich's SIX market this morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.