GlaxoSmithKline expects to close its three-part transaction with Novartis next week, the company announced Wednesday.
Under the deal, GSK is acquiring Novartis’ vaccine business and the two companies are creating a joint venture focused on consumer healthcare products. Novartis is also buying GSK’s oncology division.
GSK shareholders approved the transaction in December. The deal still requires certain anti-trust approvals, which are expected to happen soon.
GSK employs about 5,000 in the Triangle – 4,500 at its North American headquarters in Research Triangle Park and 500 at its manufacturing facility in Zebulon – but the number could be dramatically different by the end of this year.
Under a restructuring plan announced in December, GSK will shrink its R&D operations and its pharmaceutical business in the United States. About half of the more than 900 affected employees in Research Triangle Park will be offered positions with a clinical research company, Parexel, and an undetermined number will be able to relocate to GSK's campus in the Philadelphia area.
GSK will absorb about 14,000 employees when it adds Novartis vaccine business, and analysts predict another round of cost-cutting when that portion of the deal is completed.