Novartis announced it will divest its influenza vaccines business to CSL Limited for $275 million. This transaction requires regulatory approvals and is expected to close in the second half of 2015.
CSL has more than 40 years of experience in the influenza vaccines business and operates in 27 countries with more than 13,000 employees worldwide. In addition to vaccines, CSL has established businesses in plasma-driven therapies, pharmaceuticals, antivenoms and immunohemotology, according to a press release. The Novartis influenza vaccines unit will be combined with CSL's subsidiary, bioCSL.
"In CSL, we have found not only an owner for the influenza business that shares our commitment to protecting public health, but also a strong growth platform for the business and our associates," said Joseph Jimenez, CEO of Novartis.
The Novartis influenza vaccines business has delivered almost 1 billion doses of seasonal and pandemic influenza vaccines globally over the last 30 years. The company says it was the first and only manufacturer with the flexibility of two production technologies -- egg-based vaccines for seasonal, pandemic and pre-pandemic; and cell-culture-based vaccines for antibiotic-free production with the potential for rapid scale-up to protect against pandemic threats. Read the full release