GSK completes Consumer Healthcare buyout

RNS Number : 0509Q

GlaxoSmithKline PLC

01 June 2018

 

Issued: 1 June 2018, London UK - LSE Announcement

GSK completes Consumer Healthcare buyout

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. 

*Sterling equivalent value calculated net of hedging contracts

GSK enquiries:
UK Media enquiries:	Simon Steel	[phone]	(London)
US Media enquiries:	Sarah Spencer	[phone]	(Philadelphia)
Analyst/Investor enquiries:	Sarah Elton-Farr	[phone]	(London)
	James Dodwell	[phone]	(London)
	Danielle Smith	[phone]	(London)
	Jeff McLaughlin	[phone]	(Philadelphia)

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.

Registered in England & Wales:

No. 3888792

Registered Office:

980 Great West Road

Brentford, Middlesex

TW8 9GS

 

END

 

 

MSCFBMBTMBJMBTP