Tuesday, July 7th19.3°C
25936

Novartis, GSK, Lilly sign multibillion-dollar deals to trade business units

GENEVA - Drugmaker Novartis says it has signed several multibillion-dollar deals with GlaxoSmithKline and Lilly that will affect some 15,000 of its employees.

The Basel, Switzerland-based company said Tuesday it will buy GSK's oncology products business for $14.5 billion, plus up to $1.5 billion more if certain milestones are met.

It will also divest its vaccines business to GSK, excluding its flu business, for $7.1 billion, plus royalties. The two companies are also creating a new consumer health care business through a joint venture.

Separately, Novartis said it will sell off its animal health division to Lilly for about $5.4 billion and plans to sell its flu business.

Novartis CEO Joseph Jimenez told reporters the transactions will raise profits and "affect 15,000 Novartis employees," but didn't specify in which way.

The Canadian Press


Read more Business News

25354


Recent Trending




Today's Market
S&P TSX14624.50+30.93
S&P CDNX652.83-10.50
DJIA17776.91+93.33
Nasdaq4997.46+5.52
S&P 5002081.34+12.58
CDN Dollar0.7842-0.0022
Gold1149.40-3.00
Oil52.71-0.32
Lumber282.00+0.80
Natural Gas2.707-0.009

 
Okanagan Companies
Pacific Safety0.18+0.01
Knighthawk0.010.00
QHR Technologies Inc1.50-0.02
Cantex0.05+0.02
Anavex Life Sciences0.53+0.01
Metalex Ventures0.065-0.010
Russel Metals22.58+0.19
Copper Mountain Mining1.04-0.05
Colorado Resources0.09+0.01
ReliaBrand Inc0.0065+0.0005
Sunrise Resources Ltd0.03-0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.00

 



25354

FEATURED Property
23372101989 Spyglass Way
5 bedrooms 4 baths
$1,149,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Increase property value

Photo: Thinkstock.comHere are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investment five to six times what t...


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...

_








Member of BC Press Council


25650