In addition, GSK sold its marketed oncology portfolio to Novartis India.
The transaction follows a worldwide transaction between their parent firms GSK and Novartis, which was completed earlier this year on a similar basis.
Novartis’s vaccines business, which will exclude the one for influenza, will help GSK in expanding its global market share in the area.
The deal will improve GSK’s vaccines portfolio and bring together its expertise in virology, bacterial infection and technological platforms for delivering a reliable supply of treatments.
The move completes a major three-part transaction between the companies.
GSK CEO Andrew Witty said: "Completion of this transaction represents a major step forward in the Group’s strategy to create a stronger and more balanced set of businesses across Pharmaceuticals, Consumer Healthcare and Vaccines."
GSK agreed to pay $5.25bn for Novartis’s vaccines business. Novartis acquired GSK’s oncology division for $16bn.
Under the vaccines acquisition, GSK agreed to divest its meningitis vaccines Nimenrix and Mencevax on a global basis.
GSK will also divest two small Novartis bivalent vaccines for protection against diphtheria and tetanus in Italy and Germany.