Glaxo And Novartis Scratch Each Other’s Back With Consumer Product JV
This article was originally published in The Tan Sheet
The combination of the firm’s consumer portfolios will create the No. 1 global OTC business, Duetsche Bank analysts say. GSK estimates OTC sales from JV will reach $5.72 billion, representing more than half of the $10 billion in overall annual sales anticipated for the consumer health product JV.
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Pharma R&D VP Mathai Mammen acknowledges “pros and cons to remaining” as one company but dismissed “any meaningful downside” for the pharma business, which along with the device business will continue operating as J&J.
J&J takes same approach GSK, Pfizer, Merck & Co, Merck and Novartis have with their consumer health businesses, Bausch Health is starting and Sanofi says it will.
After announcing the $13bn acquisition of Novartis' 36.5% share of their JV, GSK said its Horlicks nutritional beverage line and its consumer health subsidiary in India, the source of most Horlicks sales, are potential divestments. The firm also will consider selling other consumer health nutrition products.