CSL buys Novartis’ influenza vaccines business for $275 million

Swiss pharma major Novartis (NOVN: VX) has agreed to divest its influenza vaccines business to Australia’s CSL Limited (ASX: CSL) 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, anti-venoms and immune-hemotology. The Novartis influenza vaccines unit will be combined with CSL's subsidiary, bioCSL.

Follows sale of non-flu vaccines business to GSK