Novartis to buy remaining Chiron shares in $5.1 billion deal

Share this article:
Novartis said it is buying the 58 percent of biopharmaceuticals company Chiron that it doesn't already own for $5.1 billion.
Some analysts perceive the move some as a prelude to more takeovers in the vaccines area amid growing concern over the spread of new diseases, including avian flu.
"Our plan is to turn around the Chiron vaccines business, which will require investments in R&D and manufacturing to increase quality and capacity, so that we can better meet customer demand and address public health needs," said Daniel Vasella, Novartis' chief executive. "Together with the dynamically growing diagnostics business, vaccines will form a new division, while biopharmaceuticals will be integrated into the existing pharmaceuticals business of Novartis,"
Chiron currently ranks fifth in the vaccines business with annual vaccine sales of $510 million. It is competing against rivals including GlaxoSmithKline, Sanofi-Pasteur, Merck and Wyeth.
Share this article:
You must be a registered member of MMM to post a comment.
close

Next Article in News

Email Newsletters

More in News

Five things for Pharma Marketers to know: Friday, August 29

Five things for Pharma Marketers to know: Friday, ...

Takeda closes out a good-news, bad-news kind of week, AstraZeneca adds a new clinical trial for its experimental PD-1, and researchers link a funeral to the Ebola outbreak.

Amgen sends PCSK9 to FDA

Amgen sends PCSK9 to FDA

Evolocumab holds the FDA's first filed biologics license application for the class.

Consultants expect M&A tempo to continue

Consultants expect M&A tempo to continue

PwC anticipates that divestitures will fuel late-2014 deals, but notes that the noise around early deals and the financials don't fully match up.