GSK: to buy out Novartis in consumer healthcare unit
(CercleFinance.com) - GlaxoSmithKline has reached an agreement with Novartis for the buyout of the Swiss company' 36.
5% stake in their consumer healthcare joint venture for 9.2 billion pounds (around 13 billion dollars), Britain's biggest drugmaker said on Tuesday.
GSK said 100%-ownership of the consumer healthcare business will enable the company to focus on over-the-counter products and oral health categories while improving performance and capital planning.
The transaction is expected to be accretive to adjusted earnings in 2018 and thereafter, and will strengthen its cash flow generation.
GSK said it has initiated a strategic review of nutritional malt milk drink Horlicks and its other consumer healthcare nutrition products to support the funding of the transaction.
For the record, GSK last week withdrew from the process of buying Pfizer's consumer healthcare unit.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% stake in their consumer healthcare joint venture for 9.2 billion pounds (around 13 billion dollars), Britain's biggest drugmaker said on Tuesday.
GSK said 100%-ownership of the consumer healthcare business will enable the company to focus on over-the-counter products and oral health categories while improving performance and capital planning.
The transaction is expected to be accretive to adjusted earnings in 2018 and thereafter, and will strengthen its cash flow generation.
GSK said it has initiated a strategic review of nutritional malt milk drink Horlicks and its other consumer healthcare nutrition products to support the funding of the transaction.
For the record, GSK last week withdrew from the process of buying Pfizer's consumer healthcare unit.
Copyright (c) 2018 CercleFinance.com. All rights reserved.