Novartis sells flu vaccine business to CSL Limited for $275M

Drug manufacturer Novartis recently sold its flu vaccine business to CSL Limited for $275 million, pending regulatory approvals.

The deal is expected to close during the second half of 2015, with the vaccine unit combining with bioCSL, a subsidiary of CSL.

"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," Novartis CEO Joseph Jimenez said.

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. Additionally, CSL has companies that work with plasma-driven therapies, pharmaceuticals, antivenoms and immunohemotology.

The Novartis influenza has delivered approximately 1 billion doses of seasonal and pandemic vaccines worldwide over the last 30 years. Novartis was also the first and only vaccine manufacturer to use two production technologies: egg-based vaccines for seasonal, pandemic and pre-pandemic production and cell-culture-based vaccines for antibiotic-free production.

During the upcoming transition period, Novartis will honor agreements with customers, research and development for vaccines, and product launches.

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