GSK completes Consumer Healthcare buyout
01 June 2018
GlaxoSmithKline plc (LSE/NYSE: GSK) today announces that it has completed the buyout of Novartis' 36.5% stake in its Consumer Healthcare Joint Venture for $13 billion (£9.3 billion*).
The transaction, which was previously announced on 27 March 2018 and described in the circular published on 13 April 2018, was approved by shareholders on 3 May 2018.
GSK - a science-led global healthcare company with a special purpose: to help people do more, feel better, live longer. For further information please visit www.gsk.com/about-us.
*Sterling equivalent value calculated net of hedging contracts
Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D Principal risks and uncertainties in the company's Annual Report on Form 20-F for 2017.