Welcome to hospitalpharma.com

HospitalPharma.com today | 24 April 2014

Novartis to Transform its Portfolio

Novartis has announced that it has reached a definitive agreement with GlaxoSmithKline plc (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 (Lilly) to divest the Animal Health Division, further focusing its portfolio on the leading businesses of innovative pharmaceuticals, eye care and generics.

"The transactions mark a transformational moment for Novartis. They focus the company on leading businesses with innovation power and global scale. They also improve our financial strength, and are expected to add to our growth rates and margins immediately," said Joseph Jimenez, CEO of Novartis. "We have also created a world-leading consumer healthcare business in our joint venture with GSK. We believe the divestment of our smaller Vaccines and Animal Health Divisions will enable us to realize immediate value from these businesses for our shareholders, and those divisions will benefit from being part of large, global businesses that are also leaders in their segments. Patients will benefit from even higher levels of innovation that this focus may afford. Looking ahead, this positions Novartis well for future healthcare industry dynamics."

more HospitalPharma.com today stories

Breaking Drug Discovery Articles

Click the 'more' link below to be taken to the latest journal article entries in the area of drug discovery, provided by http://www.leaddiscovery.co.uk.

Latest Features

Four multi-national pharmaceutical companies go live with Model N Global Price Management
06 Mar 14
Pharmaceutical leaders implement Model N to improve margins and mitigate risk, as surveys highlight growing urgency in responding to global pricing pressures

Find Your Own Strengths
17 Dec 13
Amazon's top selling book of 2013 is StrengthsFinder 2.

Life Sciences Global Relocations Motivations Report
06 Dec 13
EPM Scientific have recently released their Relocation Motivations Report covering global relocation trends across the life sciences sector.

Latest Poll

CPD - How important is it?