Novartis selling flu vaccine unit to CSL for $275M

Australian drugmaker CSL Ltd. said Monday it will buy Novartis' flu vaccine business for $275 million.

CSL Ltd. said the will make it the second-largest flu vaccine maker in the world. The company said the Novartis business had $527 million in revenue in 2013 and said its combined revenue could reach $1 billion a year in three to five years.

Novartis flu vaccines include Flucelvax, Fluvirin and Fluad. The Switzerland-based company, which expects to ship about 60 million doses worldwide of its seasonal influenza vaccines for the 2014-2015 season, reported $57.92 billion in total revenue in 2013.

Shares of Novartis AG picked up 24 cents to $90.39 in midday trading.


Explore further

Germany orders recall of some Novartis flu shots

© 2014 The Associated Press. All rights reserved.

Citation: Novartis selling flu vaccine unit to CSL for $275M (2014, October 27) retrieved 3 April 2020 from https://medicalxpress.com/news/2014-10-novartis-flu-vaccine-csl-275m.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
 shares

Feedback to editors

User comments