GSK and Novartis agree tie-up deal

GlaxoSmithKline and Swiss rival Novartis are to create a consumer healthcare powerhouse as part of a string of deals in the pharmaceuticals sector today.

The tie-up will create a world-leading business with annual revenues of around $10.9nn from Glaxo products such as Aquafresh and Beechams and antiseptic range Savlon and cough and cold brand Tixylix from Novartis.