Drug maker Novartis says it has signed several multi-billion-dollar deals with GlaxoSmithKline and Lilly that will affect some 15,000 of its employees.
The Basel, Switzerland-based company said on Tuesday it will buy GSK's oncology products business for $US14.5 billion ($A15.6 billion), plus up to $US1.5 billion ($A1.61 billion) more if certain milestones are met.
It will also divest its vaccines business to GSK, excluding its flu business, for $US7.1 billion ($A7.64 billion), plus royalties. The two companies are also creating a new consumer health care business through a joint venture.
Separately, Novartis said it will sell off its animal health division to Lilly for about $US5.4 billion ($A5.81 billion) and plans to sell its flu business.
Novartis CEO Joseph Jimenez told reporters the transactions will raise profits and "affect 15,000 Novartis employees," but didn't specify in which way.
