10.28.14
CSL Ltd. has agreed to acquire Novartis' global flu vaccine business for $275 million. The business brings a diversified product portfolio with pre-pandemic and pandemic franchises. It will be combined with CSL's subsidiary, bioCSL, expanding existing flu vaccine operations and creating the second largest player in the $4 billion global flu vaccine industry, with manufacturing plants in the U.S., UK, Germany and Australia.
Novartis’ flu vaccine business had sales of $527 million in 2013. The combined business is expected to achieve sales approaching $1 billion per year over the next three to five years.
CSL managing director and chief executive officer, Paul Perreault, said, "The Novartis influenza vaccine business provides bioCSL with a global leadership position in an attractive sector we understand intimately. It will transform bioCSL by giving it first class facilities and global scale as well as product and geographic diversity.
"CSL has demonstrated its ability to make the most of specialist pharmaceutical acquisitions in areas we know well and this transaction has the potential to create a global platform for bioCSL that is comparable in many aspects to our global protein science business.”
The transaction, subject to regulatory approval is expected to close 2H15.
Novartis’ flu vaccine business had sales of $527 million in 2013. The combined business is expected to achieve sales approaching $1 billion per year over the next three to five years.
CSL managing director and chief executive officer, Paul Perreault, said, "The Novartis influenza vaccine business provides bioCSL with a global leadership position in an attractive sector we understand intimately. It will transform bioCSL by giving it first class facilities and global scale as well as product and geographic diversity.
"CSL has demonstrated its ability to make the most of specialist pharmaceutical acquisitions in areas we know well and this transaction has the potential to create a global platform for bioCSL that is comparable in many aspects to our global protein science business.”
The transaction, subject to regulatory approval is expected to close 2H15.