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Novartis AG and GlaxoSmithKline PLC receive regulatory approval from the European Union for a series of deals worth over $20 billion. The agreement allows Novartis to streamline its operations while transforming Glaxo into a significant player in the vaccines and consumer-drug market. The European Commission grants approval on the condition that the companies divest certain assets and establish distribution agreements to address competition concerns.
Tuesday, 27 January, 2015