BRUSSELS, Dec 1 (Reuters) - European Union antitrustregulators will decide by Jan. 14 whether to clear two assettrade deals between Swiss drugmaker Novartis andBritish rival GlaxoSmithKline, the European Commissionsaid on Monday.
Novartis is buying GSK's oncology products for $14.5 billionplus another $1.5 billion that depends on the results of a trialin melanoma, boosting its world No. 2 position in cancer behindRoche Holding AG.
GSK in turn is acquiring Novartis' vaccines business,excluding flu, for $5.25 billion plus potential milestonepayments of up to $1.8 billion and ongoing royalties. Thecompanies also plan a joint venture in consumer healthcare.
The Commission can either clear the deals, demandconcessions if it sees potential competition issues or open alengthy investigation into the takeovers.
The EU antitrust watchdog last week cleared U.S. medicaldevice maker Medtronic's $43 billion takeover ofCovidien Plc on condition Covidien sell its drug-coatedballoon catheter business. (Reporting by Foo Yun Chee, editing by Louise Heavens)
Glaxosmithkline (GSK)