Confirming media reports, Baxter International announced it has agreed to sell its BioPharma Solutions (BPS) business to a private equity consortium of Warburg Pincus and Advent International for $4.25 billion in cash.
A private equity consortium of Warburg Pincus and Advent International is said to be in advanced talks to acquire medical device maker Baxter International’s biopharma solutions business. The deal could be worth $4 billion or more, news agencies and the newspaper Wall Street Journal reported.
Plans by US healthcare company Baxter International to shed its biopharma contract business as it streamlines operations after a poor 2022 earnings performance are gradually taking concrete shape.
US healthcare company Baxter International is planning to spend roughly $100 million to expand a sterile fill & finish facility at Halle in the German state of North Rhine-Westphalia. The plant is operated by BioPharma Solutions (BPS), a Baxter unit that specializes in partnering with leading pharma and biotech firms on the development and contract manufacturing of product for parenteral (injectable) drugs.
Under a contract just announced, Baxter BioPharma Solutions will perform fill & finish services for some 60 to 90 million doses of Moderna’s Covid-19 vaccine in the US this year. The work will take place at the CMO’s facility at Bloomington, Indiana. Part of Baxter International, the company specializes in parenteral pharmaceuticals.
