MELBOURNE, Australia,
Oct. 27, 2014 /PRNewswire/ -- CSL
Limited (ASX:CSL; USOTC:CSLLY) today announced that it has agreed
to acquire Novartis' global influenza vaccine business for
US$275 million. The business will be
combined with CSL's subsidiary, bioCSL.
Combining bioCSL's existing influenza vaccine operations with
the Novartis business will create the number two global player in
the US$4 billion global influenza
vaccine industry, with manufacturing plants in the US, UK,
Germany and Australia, a diversified product portfolio and
strong pre-pandemic and pandemic franchises in its major centres of
operation. The combined business will have a strong growth profile
and is expected to achieve sales approaching US$1 billion per annum over the next 3 to 5
years.
The Novartis influenza vaccine business is one of the largest in
the world, with net sales in the 12 months to 31 December 2013 of US$527
million. The business has state-of-the-art manufacturing
facilities and a diversified, late stage product pipeline.
CSL Managing Director and Chief Executive Officer, Mr.
Paul Perreault, today said, "The
Novartis influenza vaccine business provides bioCSL with a global
leadership position in an attractive sector we understand
intimately. It will transform bioCSL by giving it first class
facilities and global scale as well as product and geographic
diversity.
"CSL has demonstrated its ability to make the most of specialist
pharmaceutical acquisitions in areas we know well and this
transaction has the potential to create a global platform for
bioCSL that is comparable in many aspects to our global protein
science business".
Final settlement of the transaction is expected to occur in the
second half of calendar year 2015, subject to regulatory
approval.
Acquisition synergies are estimated to reach US$75 million per annum by fiscal year 2020.
Integration costs are estimated at $US100
million, accruing predominantly in fiscal year 2016.
The acquisition is expected to be funded through surplus cash
and is not expected to impact the share buy-back program announced
at the Company's Annual General Meeting in October 2014.
CSL Limited (ASX:CSL), is the parent company of CSL Behring and
bioCSL. CSL Limited is headquartered in Melbourne, Australia. For more information,
visit http://www.cslbehring.com/.
CSL Behring is a leader in the plasma protein therapeutics
industry. Committed to saving lives and improving the quality of
life for people with rare and serious diseases, the company
manufactures and markets a range of plasma-derived and recombinant
therapies worldwide. The company operates in nearly 30 countries
with approximately 13,000 employees.
CSL Behring therapies are used around the world to treat
coagulation disorders including hemophilia and von Willebrand
disease, primary immune deficiencies, hereditary angioedema and
inherited respiratory disease, and neurological disorders in
certain markets. The company's products are also used in cardiac
surgery, organ transplantation, burn treatment and to prevent
hemolytic diseases in the newborn. CSL Behring operates one of the
world's largest plasma collection networks, CSL Plasma. CSL Behring
is a global biopharmaceutical company and a member of the CSL Group
of companies.
bioCSL is a leading provider of essential vaccines,
pharmaceuticals and diagnostic reagents. For over 50 years, bioCSL
has manufactured seasonal and pandemic influenza vaccines. It
operates one of the world's largest influenza vaccine manufacturing
facilities in Australia, and
maintains fill and finish facilities in the United States and Germany for the timely, reliable supply of
influenza vaccines to global markets. Today, bioCSL's influenza
vaccine is registered in 27 countries. bioCSL also specializes in
the production of antivenoms and is the world's only producer of Q
Fever vaccine. bioCSL is a member of the CSL Group of
companies.
Media Contacts
Natalie de
Vane
Senior Director Communications
Phone: 610-878-4468
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SOURCE CSL Limited