Novartis Completes Divestiture of Influenza Vaccines Business to CSL Ltd for USD 275 Million

Novartis has completed effective 31 July 2015 the divestiture of its influenza vaccine unit to CSL Ltd.

This marks the end of a series of transactions previously announced and completed that are focusing Novartis on its three leading businesses of global scale — pharmaceuticals, generics and eye care.

Since April 2014, the influenza vaccines unit results have been reported under Discontinuing Operations in the Novartis consolidated financial statements.

CSL acquired the Novartis global influenza vaccine business for a cash consideration of US$275 million.

As foreshadowed in CSL’s release to the Australian Securities Exchange on 31 July, closing of the transaction will allow CSL to integrate the influenza vaccines division with its subsidiary, bioCSL. The combined business will create the second largest influenza vaccine business in the US$4 billion global industry and will have manufacturing plants in the US, UK, Germany and Australia, a commercial presence in approximately 20 countries, a differentiated product portfolio and strong pandemic and pre-pandemic franchises.