MONDAY, SEPTEMBER 26, 2016

Novartis completes influenza vaccine business divestiture to CSL Limited

Novartis completes influenza vaccine business divestiture to CSL Limited. | Courtesy of medicalexpo.com
Novartis announced today that it has finished its divestiture of the company’s influenza vaccine unit to another company, CSL Limited, for $275 million (USD).

The transaction was completed as of July 31, 2015 and signals the end of a set of transactions. All of the transactions concerned Novartis and three of its leading businesses: generics, pharmaceuticals and eye care.

Beginning in April 2014, the company’s influenza vaccines unit results have shown that they are under Discontinuing Operations. These are shown among the consolidated financial statements from Novartis.

Novartis, based in Basel, Switzerland, offers innovative healthcare solutions. These solutions are designed to address the changing needs of societies as well as patients. Its diverse portfolio contains eye care, innovative medicines and cost-saving generic pharmaceuticals. As of today, Novartis is one-of-a-kind as the global company with three leading positions in its portfolio.

In 2014, Novartis showed net sales amounting to $58 billion. Its R&D department amounts to an estimated $9.9 billion, which is decreased to $9.6 billion without amortization and impairment charges.

Companies under Novartis Group employ an estimated 120,000 full-time-equivalent associates. All of the company’s products are available to patients who live in over 180 countries across the globe.

Organizations in this story

Novartis Corporate Communications 230 Park Avenue, 21st Floor NY, NY 10169

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