CSL Ltd Will Acquire Novartis’ Influenza Vaccine Unit for $275 million

WASHINGTON - Oct. 28, 2014 - PRLog -- In a strategic move to strengthen their vaccine division, Australia’s CSL Ltd will pay Novartis $275 million for their global influenza vaccine business.

Novartis’ influenza vaccine business is a profitable unit; net sales at the end of December 2013 amounted to US $527 million. This will certainly be a critical boon to CSL’s biotherapy unit called bioCSL which is a global supplier of the influenza vaccine; the company has projected sales to approach US$1 billion per annum over the next 3 to 5 years. This acquisition is also concurrent with Novartis’ initiative to create a smaller business portfolio by selling off its remaining vaccine unit.

CSL Managing Director and Chief Executive Officer, Mr Paul Perreault, today said, “The Novartis influenza vaccine business provides bioCSL with a global leadership position in an attractive sector we understand intimately. It will transform bioCSL by giving it first class facilities and global scale as well as product and geographic diversity. CSL has demonstrated its ability to make the most of specialist pharmaceutical acquisitions in areas we know well and this transaction has the potential to create a global platform for bioCSL that is comparable in many aspects to our global protein science business”.

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