March 27, 2018 / 5:14 AM / 4 months ago

Novartis sells stake in venture to GSK for $13 bln

ZURICH, March 27 (Reuters) - Novartis will sell its 36.5 percent stake in a consumer healthcare joint venture to GSK for $13.0 billion in cash to focus on strategic priorities, the Swiss drugmaker said on Tuesday.

The deal is set to complete in the second quarter subject to the necessary approvals, it added in a statement. (Reporting by Michael Shields, editing by John Revill)

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