GSK buys Novartis' stake in consumer venture for $13B

GlaxoSmithKline (GSK) has acquired Novartis' minority stake in the companies' consumer healthcare joint venture for $13 billion. The buyout means GSK has full control over the Sensodyne toothpaste brand and other consumer products.

The joint venture between the companies was approved in 2014 with Novartis holding a 36.5% stake. The buyout is expected to close during the summer of 2018, according to GSK.

GSK Consumer Healthcare's portfolio includes products such as Parodontax, Poligrip, and Theraflu.

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