Novartis Unveils $30B In Deals To Drive Strategic Overhaul

Law360, New York (April 22, 2014, 12:01 PM ET) -- Novartis AG on Tuesday unveiled several transactions worth nearly $30 billion combined that will dramatically reshape its operations, including the $16 billion acquisition of rival GlaxoSmithKline PLC's cancer drugs, making it the latest pharma giant to capitalize on a wave of deal-making in the sector.

The marquee piece of the restructuring is Novartis' purchase of GSK's oncology unit, one that it says will beef up its market-leading cancer products by folding in novel treatments and cementing its place as GSK's main commercialization partner for its robust...
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