CHAPTER 12
Complex Transactions
What we have achieved is an asset swap which allows both companies to build on their existing strengths while at the same time creating significant value for GSK assets which we have built up over time. Transactions like this are incredibly complicated to execute, but when you do, it can have tremendous benefits for the businesses and for patients and consumers.
—David Redfern, Chief Strategy Officer, GlaxoSmithKline1
On April 22, 2014, Novartis and GlaxoSmithKline announced a series of asset swaps.
• Novartis agreed to sell its $900 million vaccine business to GSK for $5.25 billion with the potential to increase the total purchase price up to $7.05 billion based on the achievement of various future milestones. ...
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