Novartis sells Holly Springs vaccine plant to Australian firm

HOLLY SPRINGS, NC (WTVD) -- Reuters reports Novartis AG is selling its global influenza vaccine business for $275 million to Australia's CSL Ltd.

The deal includes Novartis' Holly Springs vaccine production plant which employs more than 500 people.

Novartis is moving to shed its underperforming units as it focuses on its cancer business, Reuters reports.

In April, it announced GlaxoSmithKline buying its vaccines business, excluding flu, for $5.25 billion.

The deals are subject to regulatory approval.

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