GSK and Novartis to combine OTC businesses

22 April 2014 - Deborah Wilkes

GlaxoSmithKline and Novartis have agreed to combine their global consumer healthcare operations into a world-leading business with annual sales of around £6.5 billion (US$10.9 billion). Once the deal is completed, GlaxoSmithKline will have a controlling equity interest of 63.5% in a joint venture, with the remaining 36.5% owned by Novartis.