March 5, 2015 - Assignment

GlaxoSmithKline completes global transaction with Novartis

GlaxoSmithKline has divested its global oncology business to Novartis for USD 16 billion and has at the same time acquired Novartis' global vaccines business (excluding influenza vaccines) for USD 5.25 billion. The transaction between the parties has also included the creation of a world-leading consumer healthcare joint venture.

GlaxoSmithKline is a science-led global healthcare group with the mission to improve the treatment of diseases and illnesses. The group has over 98,000 employees in 115 countries and had a turnover of approximately GBP 23 billion in 2014. The shares of GlaxoSmithKline are listed on the London Stock Exchange and on the New York Stock Exchange.

Novartis is a global group with focus on healthcare within five different business segments. The group has over 133,000 employees in 150 countries and had a turnover of approximately USD 58 billion in 2014. The shares of Novartis are listed on SIX Swiss Exchange and on the New York Stock Exchange.

GlaxoSmithKline was advised by Mannheimer Swartling in relation to Swedish legal matters in the transaction. The assignment was conducted in co-operation with Slaughter and May. The firm's team mainly included Johan Ljungberg, Bita Pourmotamed, Magnus Prick and Malin Selin (M&A), Henric Diefke and Johannes Eklund (Employment), Olof Stenström and Emma Noreklint (Banking and Finance) as well as Jesper Prytz and Linnéa Kallhed (Real Property).