Swiss drug maker Novartis is buying British company GlaxoSmithKline’s cancer drug business for up to $16 billion.
Novartis is also selling its vaccine business to GlaxoSmithKline for around $7 billion. And the two pharmaceutical giants are forming a joint venture consumer drug business.
These moves, along with some other recent deals in the pharmaceutical business, could reshape the entire drug industry, according to analysts.
Oliver Staley of Bloomberg News joins Here & Now’s Jeremy Hobson with details.