Multi-billion dollar pharmaceutical deals being struck are set to re-shape the entire industry.
The first is a swap between the Swiss giant Novartis and the British-based GlaxoSmithKline, which started life trading milk products in New Zealand in 1873.
Photo: AFP
Novartis will pay $US14.5 billion for Glaxo's total oncology unit.
In return, Glaxo will pay more than $US5 billion for most of Norvartis' vaccine business.
Both Novartis and Glaxo say the deal allows them to acquire assets that each company wants and to focus on a particular stream of pharmaceuticals.
Novartis' chief executive, Joseph Jiminez, says it wanted to concentrate on cancer drugs.
Other deals in the wings involve Valeant Pharmaceuticals, botox-maker, Allergan, Pfizer and AstraZeneca.
