EC clears Novartis' sales of influenza vaccines business to CSL

The European Commission has approved under the European Union Merger Regulation the acquisition of the influenza vaccines business of Swiss pharma giant Novartis (NOVN: VX) by CSL Ltd (ASX: CSL) of Australia.

In October 2014, CSL agreed to acquire Novartis’ global influenza vaccine business for $275 million, and foreshadowed intentions to combine it with bioCSL.

Novartis' human influenza vaccines business manufactures and sells influenza vaccines primarily in the USA, the European Economic Area (EEA) and Argentina. The parties' activities overlap regarding seasonal influenza vaccines.