Biotechnology giant CSL has completed its $US275 million ($376.1 million) acquisition of Novartis' influenza business.

CSL said it had paid cash for an acquisition that will allow it to create the world's second biggest company in the $US4 billion flu vaccine industry.

The company's shares soared to a new all-time high of $98.96 on Friday, when the company said it was bringing forward the close date on the deal which was first announced last October.

For more details, go to: http://www.smh.com.au/business/csl-completes-novartis-flu-vaccine-deal-20150803-giq293.html