Multi-leg asset swap between GSK and Novartis announced April 22, 2014. Leg 1: GSK acquired Novartis vaccines business (excluding flu vaccines) for $7.1B. Leg 2: Novartis acquired GSK oncology portfolio (including marketed and pipeline assets) for $16B. Leg 3: GSK and Novartis combined their consumer healthcare businesses into a new joint venture (GSK 63.5%, Novartis 36.5%). Total deal value approximately $20B+. The swap fundamentally reshaped both companies strategic profiles, with GSK doubling down on vaccines/consumer and Novartis concentrating on innovative pharmaceuticals.
Key facts
AnnouncedApr 22, 2014
ClosedMar 02, 2015
Deal value$16.0B
Deal typeAsset Purchase
Therapeutic areaOncology, Vaccines
IndicationsMultiple
Key assetsGSK oncology portfolio, Novartis vaccines business