December 16, 2003

 

 

Pfizer To Acquire CSL's Animal Health Vaccines Business

 

Leading blood products group, CSL, is set to reap a $100 million premium from the divestment of its animal health operations.

 

CSL has entered an agreement to sell its animal health vaccines business to Pfizer Inc for $170 million. That compares with the book value of $70 million.

 

Pfizer is the world's biggest animal health company and it has indicated it wants to increase manufacturing activity at all the CSL facilities being acquired.

 

The sale is expected to be completed in the first quarter of next year.

 

About CSL Animal Health

 

CSL's Animal Health business develops, manufactures and markets vaccines and diagnostic products for the care and protection of livestock and companion animals. In Australia, CSL is the market leader in vaccines for sheep, cattle and pigs. The business has 250 employees and has operations at Parkville in Victoria, Upper Hutt in New Zealand and at Omaha in the United States.