Novartis AG has agreed to buy GlaxoSmithKline PLC’s cancer-drug business for as much as $16 billion, form a consumer-health venture with the British drug maker and sell its animal-health unit to Eli Lilly & Co. for $5.4 billion in a keenly anticipated overhaul of the Swiss drugmaker.
Chief Executive Joe Jimenez said the changes, announced April 22, would “focus the company on leading businesses with innovative power and global scale
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