1. GlaxoSmithKline Buys Novartis out of Their Joint Venture for $13 Billion

    GlaxoSmithKline Buys Novartis out of Their Joint Venture for $13 Billion

    (Reuters) - GlaxoSmithKline is buying Novartis out of their consumer healthcare joint venture for $13 billion, taking full control of products including Sensodyne toothpaste, Panadol headache tablets, muscle gel Voltaren, and Nicotinell patches...

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    1. The proposed transaction addresses one of our key capital allocation priorities and will allow GSK shareholders to capture the full value of one of the world's leading consumer healthcare businesses.
    2. It (the deal) also removes uncertainty and allows us to plan use of our capital for other priorities, especially pharmaceuticals R&D.
    3. While our consumer healthcare joint venture with GSK is progressing well, the time is right for Novartis to divest a non-core asset at an attractive price.
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