Novartis Sells Influenza Vaccine Division to CSL Limited
Novartis has sold its influenza vaccine business to Australian drugmaker CSL Limited for $275 million, the latest effort by Novartis to shift away from vaccines and focus on other types of products.
The deal follows Novartis’ decision in April to sell its non-influenza vaccine division to GSK for $5.25 billion as part of a deal that combined the two drugmakers’ OTC divisions. That same month, Novartis sold its animal health division to Eli Lilly for $5.4 billion.
The recent moves are an attempt by Novartis to focus on “innovative pharmaceuticals, eye care and generics,” the drugmaker said. Novartis acquired GSK’s line of oncology products as part of its deal with the London-based drugmaker. Novartis’ generic division, Sandoz, in June said the FDA had accepted its application for a biosimilar of Amgen’s Neupogen, a move that puts it in the lead to launch the first biosimilar product in the U.S.
Last year Novartis’ flu business generated $1.4 billion in global sales, the drugmaker has said. CSL said it was confident it could reach annual sales of $1 billion in the next three to five years by combining its existing influenza division with Novartis.
The deal is expected to close by the second half of 2015, CSL said.
Novartis did not return a request for comment as of press time. — Robert King
Originally appeared in Drug Industry Daily, the pharmaceutical industry’s number one source for regulatory news and information. Click here for more information.