EU antitrust regulators will decide on the Novartis and GSK deal by January 14

BRUSSELS (Reuters) – European Union regulators will decide by Jan. 14 whether to approve two asset trading deals between Swiss drugmaker Novartis and British rival GlaxoSmithKline, the European Commission said on Monday.

Novartis is buying GSK’s oncology products for $14.5 billion (£9.2 billion) plus a further $1.5 billion contingent on the results of a melanoma trial, strengthening its world No. 2 position in cancer, behind only Roche Holding AG.

GSK, in turn, is acquiring Novartis’ vaccine business, excluding influenza, for $5.25 billion, plus potential milestone payments of up to $1.8 billion and recurring royalties. The companies also plan to jointly venture into consumer healthcare.

The Commission can either approve the deals, demand concessions if it sees potential competition concerns, or launch a lengthy investigation into the takeovers.

Last week, the European Union’s antitrust watchdog approved US medical device maker Medtronic’s $43 billion takeover of Covidien Plc on the condition that Covidien sell its drug-coated balloon catheter business.

(Reporting by Foo Yun Chee, editing by Louise Heavens)