The Wall Street Journal on Thursday reported that Abbott

decided against selling its European influenza vaccines business after initial bids came in below the company's expectations.

The company, which acquired the unit as part of its $7.6 billion purchase of Solvay, put the vaccines unit up for auction last June.

However, a person familiar with the matter noted that despite drawing offers from four or five companies, the bids were less than 500 million euros ($640 million).

A source noted that the company now plans to integrate the business into its other operations, suggesting that Abbott will likely hold on to the unit for the foreseeable future.