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Novartis, CSL deal

November 3, 2014 8:00 AM UTC

CSL will acquire Novartis' global influenza vaccine business for $275 million. CSL will merge the vaccines portfolio into its bioCSL subsidiary and said it expects annual sales of the combined business to approach $1 billion over three to five years. The biologics and diagnostics unit of CSL reported sales of A$433 million ($407 million) for the fiscal year ended June 30, of which flu vaccines accounted for A$125 million ($117.6 million). According to CSL, the assets it is acquiring, which include manufacturing facilities, generated $527 million in net sales in 2013. ...