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Australia’s CSL agrees to buy Novartis’ influenza vaccine business for $275m

Australian biotechnology firm CSL has agreed to acquire Novartis’ global influenza vaccine business for $275m, a move that will make it the world's second-largest flu vaccine maker.

Novartis HQ

The latest acquisition will be combined with CSL’s existing vaccines and pharmaceutical subsidiary, bioCSL. The transaction requires regulatory approvals and is expected to be completed in the second half of 2015.

The combined business will have manufacturing plants in the US, UK, Germany and Australia.

bioCSL general manager Dr John Anderson said: "This will transform bioCSL’s existing influenza vaccine business, giving us first class facilities, global scale and product and geographical diversity.

"bioCSL is absolutely focused on its critical role as Australia’s onshore supplier of influenza vaccine, which underpins its pivotal position in both the nation’s influenza pandemic preparedness and swift seasonal responses to influenza."

Until the transaction is completed, Novartis will continue to operate its influenza vaccines business and report its results under discontinuing operations.

Novartis’ influenza vaccines business will be reported together with the non-influenza business until such time as the non-influenza vaccines business is divested to GlaxoSmithKline (GSK).

On April 22, 2014, Novartis reached an interconditional definitive agreement with GSK to acquire the latter’s oncology products, and to divest its Vaccines (excluding influenza) to GSK.


Image: Novartis AG headquarters in Basel, Switzerland. Photo: courtesy of Andrew.