As part of the deal, GSK has acquired Novartis’s global Vaccines business, excluding influenza vaccines, for an initial cash consideration of $5.25bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile 鈥� free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Under the agreement, GSK also sold its oncology business to Novartis for an aggregate cash consideration of $16bn, and created a new Consumer Healthcare joint venture with Novartis, which GSK hold majority stake of 63.5% in.

GSK CEO Sir Andrew Witty said: "Completion of this transaction represents a major step forward in the group’s strategy to create a stronger and more balanced set of businesses across pharmaceuticals, consumer healthcare and vaccines.

"We will now be focused on rapidly implementing our integration plans to realise the growth and synergy opportunities we see in the new consumer healthcare and vaccines businesses."

"We will now be focused on rapidly implementing our integration plans to realise the growth and synergy opportunities we see in the new consumer healthcare and vaccines businesses."

Under the terms of the deal, if certain conditions relating to the COMBI-d Trial are not met, around $1.5bn of that purchase price may have to be returned to Novartis.

GSK intends to use the proceeds to fund the full amount of the previously announced capital return of 拢4bn to shareholders.

The three-part transaction was first announced in April 2014 and received approval from the European Commission (EC) for the deal in January this year.

In November 2014, GSK obtained approval from the US Federal Trade Commission (FTC) for its proposed acquisition of Novartis’ vaccines business, while in January this year Novartis India approved transfer of its over-the-counter division (OTC) division to GlaxoSmithKline Consumer (GSK CPL), for Rs1.97bn ($17.6m).

Image: Novartis AG headquarters in Basel. Photo: courtesy of Andrew.