Deals
Glaxo Deals Shift Focus to Vaccines, Consumer Products
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With a trio of transactions, GlaxoSmithKline Plc Chief Executive Officer Andrew Witty is expanding the U.K. pharmaceutical company’s positions in consumer products and vaccines, providing “durability” as the industry faces increased pricing pressure for medicines.
The deals, which include selling cancer drugs to Novartis AG for as much as $16 billion and buying Novartis’s vaccine business for $7.1 billion, also help shift the conversation about Glaxo away from the eruption of bribery investigations in China, Poland and the Middle East.