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Novartis selling nicotine patch to win U.S. nod for GlaxoSmithKline deal -FTC

Reuters - UK Focus

WASHINGTON, Nov 26 (Reuters) - Novartis AG (Xetra: 904278 - news) has agreed to sell its nicotine patch, Habitrol, in order to win U.S. antitrust approval for a consumer healthcare joint venture with Britain's GlaxoSmithKline (Other OTC: GLAXF - news) , the U.S. Federal Trade Commission said on Wednesday.

Novartis and GlaxoSmithKline had previously announced that they were creating the venture, and that Glaxo would buy Novartis' vaccines business, excluding flu vaccines. Novartis would buy Glaxo's oncology drugs portfolio, the companies said in April.

Novartis and Glaxo, which has Nicoderm CQ, are two of only three companies that sell nicotine patches to U.S. retailers, the FTC said. (Reporting by Diane Bartz; Editing by Ros Krasny and Susan Heavey)