Lilly Eyes Emerging Markets in Novartis

The purchase of Novartis' animal-health business will strengthen Eli Lilly's hand in emerging markets, tapping into growing demand there for protein-rich diets and household treatments for pets, top executives of the U.S. company said.  As part of a multibillion-dollar revamp announced earlier on Tuesday, Swiss drugmaker Novartis said it would sell its animal-health arm to Indianapolis-based Lilly for about $5.4 billion, while also swapping assets with GlaxoSmithKline.

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-Igor P Purlantov