Novartis exchanges assets with Glaxosmithkline
(Corrects $7.1 million to $7.1 billion in second paragraph)
ZURICH, April 22 (Reuters) - Swiss drugmaker Novartis said on Tuesday it would exchange certain assets with GlaxoSmithKline (Other OTC: GLAXF - news) and divest its animal health business to Eli Lilly.
Novartis (Xetra: NOT.DE - news) 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 billion 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; Editing by Erica Billingham)