Novartis has announced that it has completed effective January 1, 2015 the divestment of its animal health division to Eli Lilly and Company (Lilly) for approximately $ 5.4 billion. The completion of this transaction is part of a comprehensive set of transactions announced in April last year that will focus Novartis on its three leading businesses of global scale - innovative pharmaceuticals, eye care, and generics.
As a result of this announcement, Novartis will show in the first quarter of 2015 an exceptional pre-tax gain of approximately $4.6 billion.
In 2015, apart from the animal health divestment gain, the consumer health divisional results will only include the Novartis OTC business.
The animal health division had reported net sales of approximately $ 1.1 billion in 2013 and approximately $ 0.9 billion through Q3 2014.
As a result of this announcement, Novartis will show in the first quarter of 2015 an exceptional pre-tax gain of approximately $4.6 billion.
In 2015, apart from the animal health divestment gain, the consumer health divisional results will only include the Novartis OTC business.
The animal health division had reported net sales of approximately $ 1.1 billion in 2013 and approximately $ 0.9 billion through Q3 2014.