October 26, 2014 / 9:55 PM / 4 years ago

Australia's CSL buys Novartis influenza vaccine unit for $275 million

The logo of Swiss drugmaker Novartis is seen at its headquarters in Basel October 22, 2013. REUTERS/Arnd Wiegmann

SYDNEY (Reuters) - Australia’s CSL Ltd (CSL.AX), the world’s largest blood products company, said on Monday it had agreed to buy Novartis AG’s NOVN.VX global influenza vaccine business for $275 million.

Combining the Novartis unit with CSL subsidiary bioCSL would great the No.2 player in the $4 billion global influenza vaccine industry, CSL said in a statement to the Australian stock exchange.

CSL said it would fund the deal with surplus cash and estimated integration costs at $100 million, while synergies were seen at $75 million a year by 2020.

Reporting by Lincoln Feast; Editing by Robin Pomeroy

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below