BRIEF: Novartis sells off consumer unit for $13 billion

Novartis

Novartis AG has announced the completion of the divestment to GlaxoSmithKline PLC of its 36.5 percent stake in a consumer healthcare joint venture (JV) for a total consideration of USD13.0 billion.

The divestment was completed in accordance with the terms of the transaction announced on March 27, 2018 and brings to an end Novartis’ participation in the JV, which was formed in 2015 as part of Novartis’ portfolio transformation.

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