Novartis sells flu vaccine business at knockdown rate
This article was originally published in Scrip
Novartis has agreed to sell its influenza vaccines business to CSL of Australia for little over half of the annual revenues it generates. CSL is paying $275m, while the business had sales of $527m in 2013. Novartis will book a non-cash impairment charge of $1.1bn to reflect the difference in the book value of the assets being sold and the selling price.