Abbott considers sale of former Solvay flu vaccine business

Abbott Laboratories, acquirer of Solvay SA's pharmaceutical unit in February, is considering selling the flu vaccine part of the business, a company spokesman said.

"We're exploring the option," spokesman Scott Stoffel said by telephone today. The vaccine, called Influvac, had 2009 sales of $198 million, Stoffel said. He declined to comment on a possible price.

The Libertyville Township-based drugmaker bought the pharmaceutical unit from Brussels-based Solvay for about $5.9 billion, gaining full control of the TriCor cholesterol drug and a bigger presence in emerging markets. Abbott's plan to sell the vaccine business makes sense, said Hedwig Kresse, an analyst at market researcher Datamonitor Plc.

"The company is a niche player without critical mass in the increasingly competitive seasonal flu vaccine market," said Kresse, head of vaccines and infectious diseases, in a research note today.

Abbott declined 53 cents, or 1.1 percent, to $46.65 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have dropped 14 percent this year.

Potential buyers may include London-based drugmakers Glaxosmithkline Plc, which could use the business to gain entry to the Russian market, and AstraZeneca Plc, which could combine the Solvay unit with its own flu business, Kresse said.

AstraZeneca spokesman Chris Sampson and Glaxo spokeswoman Sarah Alspach said the companies don't comment on market speculation. Abbott's plans were reported earlier by the Wall Street Journal.