Chiron shareholders accept Novartis merger

Shareholders in Chiron have voted by more than 85 per cent in favour of the acquisition by Novartis of all remaining shares that the Swiss-based pharmaceutical firm doesn’t already own in Chiron.

Novartis will now buy all remaining shares for $48 per share, amounting to a total value of $5.4 billion.

“With the close of this transaction, Novartis will gain access to attractive strategic growth platforms in the dynamic vaccines market and the rapidly expanding diagnostics business,” said Dr Daniel Vasella, chairman and chief executive officer of Novartis.

“At the same time, Chiron will add to our pharmaceuticals pipeline, especially in our oncology franchise. With innovative medicines at our core, complemented by generic drugs, over-the-counter treatments and now preventive medicines in the form of vaccines, Novartis offers a full spectrum of treatments, benefiting patients and physicians around the world.”

The deal is expected to officially close sometime today, with Novartis saying that the merger will result in a dedicated vaccines and diagnostics division.

The new division ? Novartis Vaccines & Diagnostics ? will consist of two businesses, Novartis Vaccines and a Chiron-named diagnostics branch.

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