Novartis exchanges assets with Glaxosmithkline
NOVARTIS (NOVN.CH)said it had agreed to acquire GSK's oncology products for a $14.5 billion payment. The Swiss drugmaker said it would divest its vaccines business, excluding flu, to GSK for $7.1 million plus royalties.
In a separate transaction, Novartis said it had agreed to divest its animal health division to Eli Lilly for approximately $5.4 billion.
(Reporting by Alice Baghdjian)