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Chiron Completes Sale of $300 Million in Newly Issued Commmon Stock to Novartis.

EMERYVILLE, Calif. -- Chiron Corporation (NASDAQ:CHIR) today announced that it has closed on a sale of $300 million in newly issued shares of its common stock at a price of $43.50 per share to a subsidiary of Novartis, following receipt of necessary regulatory approvals. Under provisions of the 1994 Subscription Agreement with Novartis, as amended, Chiron exercised its right on October 30, 2005, to have Novartis purchase the newly issued shares.

About Chiron

Chiron delivers innovative and valuable products to protect human health by advancing pioneering science across the landscape of biotechnology. The company works to deliver on the limitless promise of science and make a positive difference in people's lives. For more information, please visit www.chiron.com.

This news release contains forward-looking statements that involve risks and uncertainties and are subject to change. In particular, there can be no guarantee that the transaction contemplated by the merger agreement will be consummated. A discussion of the company's operations and financial condition, including factors that may affect its business and future prospects that could cause actual results and developments to differ materially from those expressed or implied by any forward-looking statements, is contained in documents the company has filed with the SEC, including the Form 10-K for the year ended December 31, 2004, and the Form 10-Q for the quarter ended September 30, 2005, and will be contained in all subsequent periodic filings made with the SEC. These documents identify important factors that could cause the company's actual performance to differ from current expectations.

Chiron does not undertake an obligation to update the forward-looking information the company is giving today.
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Publication:Business Wire
Geographic Code:1USA
Date:Dec 8, 2005
Words:271
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