Novartis AG (NOVN) is in talks with Merck & Co. to trade its animal-health and human vaccines businesses for the New Jersey drugmaker’s over-the-counter health-products unit, people familiar with the matter said. The swap would fit strategies at both companies -- and within the industry -- to focus on core strengths and get rid of other business lines. The two drugmakers may each trade about $5 billion in assets to do so, said one of the people, who asked not to be named because the process is private.
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