There was a flurry of big pharma merger and acquisition announcements and rumors this week, and the latest deals were more complex than usual.

In a three-part transaction, GlaxoSmithKline (NYSE:GSK) and Novartis (NYSE:NVS) swapped divisions and created a new entity to help them focus in on their areas of expertise and scale. Novartis purchased Glaxo's oncology division for $14.5 billion plus a potential $1.5 billion milestone payment, while Glaxo paid over $5 billion for Novartis' vaccine business (without the flu vaccines). Finally, Glaxo and Novartis created a separate consumer business that Glaxo gets a 63.5% interest in. Separately, Novartis sold its animal health business to Eli Lilly (NYSE:LLY) for $5.4 billion, helping to fund the Glaxo transactions.

The transaction generated two really crucial questions: Do these deals make any sense? And who got the best deal? In this video from Thursday's Market Checkup, Motley Fool health care analysts David Williamson and Michael Douglass give their take and what to look for moving forward.

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David Williamson owns shares of Novartis and Zoetis. Michael Douglass has no position in any stocks mentioned. The Motley Fool recommends Gilead Sciences. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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