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GSK Pharma completes acquisition of Novartis vaccines business

GSK's existing portfolio includes vaccines for influenza, chickenpox and hepatitis; with this deal it will enter anti-rabies and meningitis market

BS Reporter  |  Mumbai: 

GSK Pharma completes acquisition of Novartis vaccines business

has announced completion of its transaction with India today where acquires Novartis' business and divests its marketed portfolio to India.

This follows a global deal between parent -- GSK plc, UK and AG, Switzerland -- which was completed in March on similar lines. As per the agreement Novartis acquired GSK's drugs portfolio for $16 billion and sold its business in return for $7.1 billion, apart from forming a joint venture for the consumer healthcare business in a three-part transaction.

"The of the business of Novartis provides GSK with an exciting opportunity to build an even stronger, sustainable global vaccines business. The transaction will enhance GSK's vaccines portfolio and bring together its expertise in virology, bacterial infection and technological platforms to deliver a reliable supply of high quality vaccines," GSK Pharmaceuticals said in a statement today.

According to industry sources GSK Pharmaceuticals existing vaccines portfolio has a revenue of about Rs 300-350 crore and contributes about 15 percent of its revenue. "The company is a leader in the sale of vaccines in non government category," an industry source said. Its existing portfolio includes vaccines for influenza, and and B and will get access to Novartis's vaccine business catering to anti rabies and meningitis vaccine

 

First Published: Wed, September 30 2015. 19:52 IST
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