Argus Upgrades GlaxoSmithKline (GSK) to Buy
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April 22, 2014 9:12 AM EDT
Novartis (NYSE: NVS) announced that it has reached a definitive agreement with GlaxoSmithKline plc (NYSE: GSK) to exchange certain assets, building global leadership in key segments and focusing the company's portfolio. Analyst Mark Clark of Deutsche Bank said the deal makes strategic sense for GlaxoSmithKline.
"In a complex, three-part inter-conditional deal, GSK will: (1) assume control of Novartis OTC business (in return for granting Novartis a 36.5% stake in the combined Consumer Health business); (2) divest its marketed... More
April 22, 2014 8:59 AM EDT
Novartis (NYSE: NVS) announced that it has reached a definitive agreement with GlaxoSmithKline plc (NYSE: GSK) to exchange certain assets, building global leadership in key segments and focusing the company's portfolio. Under the agreement, Novartis would strengthen the company's innovative pharmaceuticals business by acquiring GSK oncology products, and would divest Vaccines (excluding flu) to them. The two companies would also create a joint venture, combining their consumer divisions to create a world-leading consumer healthcare business. Separately, the company announced a definitive agreement with Eli Lilly and Company (NYSE:... More
