Out with the old: Novartis completes Lilly animal health sale as part of overhaul
- Novartis is overhauling its portfolio by shedding its animal health and vaccines divisions, and acquiring several new products from other companies.
- Novartis completed the sale of its animal health division to Eli Lilly for $5.4 billion and is finalizing acquisition of GSKs oncology unit for $14.5 billion.
- Novartis's animal health division had $1.1 billion in net sales in 2013 and $900 million in sales through Q3 2014. Lilly's animal health sales reached and $2.15 billion in 2013.
It's a new year, and companies are busy re-calibrating their portfolios. In addition to selling its animal health division to Eli Lilly abd buying GSK's oncology drugs, Novartis is also selling its vaccines business to GSK for $5.25 billion.
That sale includes the promising Bexsero vaccine for meningitis B, which is in development and was granted breakthrough designation status last year. Look for other changes at Novartis this year, including ones related to its eye care and generic drug divisions.