Novartis Sells Vaccines Business, SAAB in $5.4 B Deal

Nigel Thomas
27 Oct, 2014
New York City

Novartis agreed to divest its influenza vaccines business to Australia-based CSL for $275 million. Petra Diamonds quarterly revenue climbed 55%. Saab signed $5.4 billion contract with Brazilian government for 36 Gripen fighters. TNT Express net swung to a loss of

[R]4:00 PM Frankfurt – Novartis agreed to divest its influenza vaccines business to Australia-based CSL for $275 million. Petra Diamonds quarterly revenue climbed 55%. Saab signed $5.4 billion contract with Brazilian government for 36 Gripen fighters. TNT Express net swung to a loss of €55 million.[/R]

In London trading, FTSE 100 index slipped 0.6% or 38.94 to 6,349.79 and in Frankfurt the DAX index declined 1.1% or 101.38 to 8,886.42.

In Paris, CAC 40 index dropped 1% or 41.64 to 4,087.26.

Novartis AG fell 0.3% to 85.45 francs after the Switzerland-based healthcare agreed to divest its influenza vaccines business to Australia-based biopharmaceutical CSL Limited for $275 million.

The transaction is expected to close in the second-half of 2015.

Petra Diamonds Limited declined 3.5% to 169 pence after the U.K.-based diamond producer said revenue in the first-quarter ending in September climbed 55% to $100.8 million and production increased 2% to 833,744 carats from a year ago period.

Saab AB climbed 3.9% to 189 kronor after the Sweden-based military and civil security provider signed a contract with Brazilian Federal Government for the development and production of 36 Gripen NG fighter valued at 39.3 billion kronor or $5.4 billion.

TNT Express NV declined 6.9% to €4.49 Netherlands-based documents and parcels delivery services provider reported revenue on the September 27 slipped 2% to €1.65 billion from €1.68 billion a year ago period.

Net in the quarter swung to a loss from a year ago to €55 million compared to profit of €6 million.