 "GSK Pharma completes acquisition of Novartis vaccines business")
GlaxoSmithKline Pharmaceuticals has announced completion of its transaction with Novartis India today where GSK India acquires Novartis' vaccines business and divests its marketed oncology portfolio to Novartis India.
This follows a global deal between parent companies -- GSK plc, UK and Novartis AG, Switzerland -- which was completed in March on similar lines. As per the agreement Novartis acquired GSK's cancer drugs portfolio for $16 billion and sold its vaccines business in return for $7.1 billion, apart from forming a joint venture for the consumer healthcare business in a three-part transaction.
"The acquisition of the vaccines 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, chickenpox and hepatitis A and B and will get access to Novartis's vaccine business catering to anti rabies and meningitis vaccine
