Novartis Divests Flu Vaccine Business to CSLBy
Novartis has completed the divestiture of its influenza vaccine unit to CSL Limited.. In October 2014, Novartis agreed to divest its influenza vaccines business to CSL Limited for $275 million, a transaction that was part of Novartis’ strategy to divest its vaccines business. Earlier this year Novartis divested its vaccines business (excluding its vaccines influenza business) to GlaxoSmithKline for up to $7.1 billion plus royalties. The $7.1 billion consists of $5.25 billion paid upon completion of the deal, which was completed in March 2015, and up to $1.8 billion in future milestone payments.