Dechert Advises GSK in Exchange of Strategic Assets with Novartis
March 04, 2015
Dechert LLP advised GlaxoSmithKline in the implementation of several strategic assets transactions in France with the Swiss pharmaceutical company Novartis.
After its signing and announcement in April 2014, this transaction was completed on March 2, 2015 and led to several exchanges of assets valued at over US$20 billion (€17,9 billion). As part of this operation, GlaxoSmithKline sold its oncology activity to Novartis and in exchange acquired Novartis’ Vaccine activity, excluding flu vaccines. Furthermore, the two groups simultaneously joined their 'Consumer Healthcare' activities into a joint venture, which will be controlled by GlaxoSmithKline.
Dechert's team in Paris advised GlaxoSmithKline on the French legal aspects of these three operations. Partners Alain Decombe and Isabelle Marguet led the Dechert team with assistance from Elsa Jospé for corporate issues and Séverine Kupfer for regulatory questions.
Read the release in French (PDF): "Dechert conseille GlaxoSmithKline dans le cadre d’un échange d’actifs stratégiques et de la mise en place d’une co-entreprise avec Novartis."
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