Novartis sells blood transfusion diagnostics unit to Grifols
Novartis is to sell its blood transfusion diagnostics unit to Barcelona-based healthcare company, Grifols, for $1.675 billion. Grifols is the world's third largest producer of plasma-derived therapies.
"The sale of the Novartis blood transfusion diagnostics unit enables us to focus more sharply on our strategic businesses while providing Grifols with a platform for global expansion. I am especially pleased that the agreement with Grifols provides our associates with an opportunity to join a company that will focus on growing this business aggressively."
Joseph Jimenez CEO of Novartis.
Novartis acquired its blood transfusion diagnostics unit in 2006, as part of Chiron. The unit is dedicated to increasing transfusion safety worldwide with nucleic acid testing, blood testing products and immunoassay reagents that detect infectious disease. Headquartered in Emeryville, California, its net sales in 2012 were approximately $565 million.
This transaction, requiring customary regulatory approvals, is expected to be completed in the first half of 2014.
Related news:
Novartis agrees $1.7bn sale of blood diagnostics unit to Grifols (Financial Times)
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