Advertisement:

Novartis, GSK, Lilly In Multibillion-Dollar Deals

GENEVA (AP) -- Drug maker 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.


InfoCenter


RDU Radar


Triangle Traffic

Reports | Cams

Air Quality

Pollen Forecast

Station Events

Sunday 9/21

1 PM - NASCAR Racing - 680 AM

Tuesday 9/23

7 PM - Ruffin McNeill Show - 850 AM

 



Advertisement:

On Air Now

Triangle Trader

Triangle Trader

12:00pm - 1:00pm
Call: 860-WPTF (9683)
or 1-800-662-7979

Next Up:

NASCAR Racing

On Air Now

Pat Patterson

Pat Patterson

9:00am - 1:00pm

Next Up:

Charlie Brown

Advertisements

Listener Club Login

Club Login
Sign up if you are not already a member