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Glaxo, Novartis, Eli Lilly in ‘major 3-part’ deal
USA Today

British drug giant GlaxoSmithKline announced Tuesday that it will sell its cancer-products business to pharmaceutical giant Novartis, in a deal that will see the firm’s Swiss rival pay $14.5 billion for its oncology unit.

Basel-headquartered Novartis said separately that it will sell its animal health division to U.S. firm Eli Lilly for $5.4 billion.

Shares in Glaxo advanced close to 5% in the wake of the announcement while Novartis’ shares added 1.2%. Eli Lilly shares moved up 1.5%.

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