Chiron Mulls Options For Vaccines Business

Chiron Corp. is considering seeking a partner for its vaccines business or selling the business outright as the biotech company moves to stem losses from the unit. The vaccines division, which does most of its business outside the United States, has failed in high-profile attempts to bring to market potential blockbusters, such as inoculations for herpes and whooping cough. Magnus Lundberg, president of Chiron Vaccines & Therapeutics, said the Emeryville, Calif.-based company is “talking to everybody” about a partnership, which would be his first choice for the business. But if the unit is put on the block, he predicted it could fetch nearly $1.1 billion. Shares in Chiron, which is about 45% owned by Swiss drug maker Novartis, rose $1.38 to close at $20 on Nasdaq.