-
Apr 23, 2014
-
GlaxoSmithKline swaps oncology for vaccines with Novartis AG
GlaxoSmithKline Plc, the fifth largest company by revenue globally, said on its website on Tuesday it will sell its oncology business to Novartis AG; in a simultaneous transaction the Swiss drug major will shed its vaccines portfolio — except flu vaccines — to the British drugmaker. The net transaction value will be $9 billion — while GSK will sell the oncology business for about $16 billion, it will buy the vaccines arm for $7.05 billion, which includes milestone payments.
Source -
http://www.financialexpress.com
|