Does Novartis own GSK?
In March 2018, GSK announced that it has reached an agreement with Novartis to acquire Novartis’s 36.5% stake in their Consumer Healthcare Joint Venture for US$13 billion (£9.2 billion).
What is the top selling GSK OTC brand?
Well-known brands to be sold under the JV include GSK’s Voltaren and Panadol, and Pfizer’s Advil, Nexium 24HR and Robitussin. According to GSK, the JV “will be the global leader in over-the-counter (OTC) products with a market share of 7.3% ahead of its nearest competitor at 4.1%”.
Did GSK merge with Pfizer?
In December 2018, Pfizer and GlaxoSmithKline joined together to create a global healthcare company by combining the consumer healthcare business of each company. The combined global sales of the two consumer businesses are $12.7 billion.
Are GSK and Pfizer the same company?
GSK and Pfizer finalized the all-equity transaction joining the two consumer health product groups in August; GSK retains a majority 68% stake in the joint venture. RELATED: Pfizer’s GSK consumer deal is closed, and generics go next.
Are GSK and Novartis the same?
0 billion. Basel, June 1, 2018 – Novartis AG (“Novartis”) today announced the completion of the divestment to GlaxoSmithKline PLC (“GSK”) of its 36.5 percent stake in a consumer healthcare joint venture (JV) for a total consideration of USD13.
Who bought Novartis?
In March 2018, GlaxoSmithKline announced that it has reached an agreement with Novartis to acquire Novartis’ 36.5 percent stake in their Consumer Healthcare Joint Venture for $13 billion (£9.2 billion).
Does Pfizer have OTC products?
SELF-CARE SOLUTIONS. Pfizer Consumer Healthcare’s products include over-the-counter (OTC) medicines, supplements and other products that are top sellers in their categories and household names for consumers around the world.
Who bought GlaxoSmithKline?
In August 2019, Pfizer (PFE) and GlaxoSmithKline created GSK Consumer Healthcare when they merged their consumer healthcare businesses in a joint venture. The unit is majority owned by GSK, which has a 68% stake. Pfizer owns 32%.
How does Novartis OTC and GSK account for joint venture income?
Novartis OTC and GSK Consumer Healthcare joint venture Novartis now owns a 36.5% share of the joint venture between Novartis OTC and GSK Consumer Healthcare. The investment will be accounted for using the equity method of accounting and will be reported as income from associated companies.
When did Novartis buy GSK?
27 March 2018 GSK reaches agreement with Novartis to acquire full ownership of Consumer Healthcare Business Agreement with Novartis to buyout Novartis’ 36.5% stake in the Consumer Healthcare Joint Venture for $13 billion (£9.2 billion)
What is the consumer healthcare joint venture with Novartis?
Agreement with Novartis to buyout Novartis’ 36.5% stake in the Consumer Healthcare Joint Venture for $13 billion (£9.2 billion) Proposed transaction addresses one of the Group’s stated key capital allocation priorities, supporting efforts to improve performance and capital planning for the Group
What is the scope of GSK Consumer Healthcare?
GSK Consumer Healthcare is expected to have leading positions in four key OTC categories – Wellness, Oral Health, Nutrition and Skin Health. The joint venture has scale and commercial presence in the developed world as well as in key emerging markets. The Novartis non -influenza Vaccines business has been divested to GSK.