Novartis has said it will spend up to $16bn on GlaxoSmithKline's cancer drug assets, as part of a flurry of other multi-billion dollar pharmaceuticals deals that also involve industry stablemate Eli Lilly.
Novartis will buy Glaxo's oncology business for as much as $16bn and the two companies will form a consumer health venture.
Separately, Novartis will sell Glaxo its vaccines business, excluding flu products, for $7.1 bn plus royalties.
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