GSK Pays $7.1 Billion for Novartis’s Vaccine Business

GlaxoSmithKline announced it will acquire Novartis’ (NYSE: NVS) money-losing vaccine business for $7.1 billion. That business includes manufacturing facilities in China and India. Novartis bought an 85% share of vaccine maker Zhejiang Tianyuan Bio-Pharma in 2011 for $125 million, which will transfer to GSK. GSK expects to realize about $800 million of savings once the Novartis vaccine business is fully integrated. More details.... Stock Symbol: (NYSE: GSK) Share this with colleagues: // //