A Logo sits on a Glass Door Outside Novartis AG's Headquarters

A Logo sits on a Glass Door Outside Novartis AG's Headquarters

Gianluca Colla/Bloomberg

Novartis AG agreed to buy Glaxo’s cancer-drug business for as much as $16 billion while selling most of the company’s vaccines division to Glaxo for $7.1 billion and its animal-health unit to Eli Lilly & Co. for $5.4 billion.