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Novartis, Glaxo Swap Units; Lilly Buying Animal Biz

Big pharmas Novartis (NVS), GlaxoSmithKline (GSK) and Eli Lilly (LLY) announced a massive exchange of business units Tuesday morning in a set of deals with a total value of more than $28 billion. Novartis and Glaxo rose on the stock market today, while Lilly slipped a fraction. Switzerland-based Novartis agreed to buy British Glaxo’s oncology business for $14.5 billion, plus up to $1.5 billion in milestone payments depending on how products in the

Theravance, Glaxo COPD Drug Does Well In Asthma

Biotech Theravance (THRX) and its big-pharma partner GlaxoSmithKline (GSK) released positive data on a trial of their drug for asthma Friday, sending both stocks up in the stock market today. The companies said the phase-three trial met its primary endpoint of bringing a statistically significant improvement in lung function after 12 weeks of treatment. The drug is a combination of fluticasone furoate, a steroid that Glaxo sells separately as the