Novartis Sells Stake In Consumer Healthcare Venture To GSK For $13 Billion
GlaxoSmithKline said on Tuesday it will buy Novartis’s 36.5 percent stake in their consumer healthcare joint venture for $13 billion in cash, and will also begin a strategic review of some other businesses. GSK last week quit the race to buy Pfizer’s consumer healthcare business, endangering an auction the U.S. drugmaker hoped would bring in as much as $20 billion.