Chris Hughes, Columnist

GSK's $13 Billion Novartis Deal Is Only Just the Start

CEO Emma Walmsley will have plenty of options for future acquisitions.

March 27, 2018 at 11:37 AM UTC

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

GlaxoSMithKline CEO Emma Walmsley — Source: GlaxoSmithKline Plc

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GlaxoSmithKline Plc's new-ish CEO is proving to be an adroit negotiator. On Tuesday, Emma Walmsley agreed to pay $13 billion for Novartis AG's stake in the companies' consumer healthcare joint venture, which owns brands like Sensodyne toothpaste and Nicorette nicotine patches.

It isn't a cheap deal, but the lofty valuation looks justified.