Novartis completes divestiture of influenza vaccines business to CSL Limited for USD 275 million
Novartis today announced that it has completed effective July 31, 2015 the divestiture of its influenza vaccine unit to CSL Limited.
Basel, Switzerland, August 3, 2015
- Novartis today announced that it has completed effective July 31, 2015 the divestiture of its influenza vaccine unit to CSL Limited.
This marks the end of a series of transactions previously announced and completed,that are focusing Novartis on its three leading businesses of global scale - pharmaceuticals, generics and eye care.
Since April 2014, the influenza vaccines unit results have been reported under Discontinuing Operations in the Novartis consolidated financial statements.
Closing in certain jurisdictions is subject to statutory employee consultation. The foregoing release contains forward-looking statements that can be identified by words such as "pipeline," "are focusing," or similar terms, or by express or implied discussions regarding any potential strategic benefits, synergies or opportunities as a result of the announced transactions. You should not place undue reliance on these statements. Such forward-looking statements are based on the current beliefs and expectations of management regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that Novartis will be able to realize any of the potential strategic benefits, synergies or opportunities as a result of the transactions. Neither can there be any guarantee that Novartis will achieve any particular financial results in the future. In particular, management's expectations could be affected by, among other things, the uncertainties inherent in research and development, including unexpected clinical trial results and additional analysis of existing data, and unexpected safety data; unexpected regulatory actions or delays or government regulation generally; the potential that the strategic benefits, synergies or opportunities expected from the transactions may not be realized or may take longer to realize than expected; the Company's ability to obtain or maintain proprietary intellectual property protection; global trends toward health care cost containment, including ongoing pricing pressures; general economic and industry conditions, and other risks and factors referred to in Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.