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.
Paris-based French drugmaker Sanofi has agreed to acquire Provention Bio for $25 per share in cash, representing an equity value of about $2.9 billion. The publicly traded US biopharma focuses on intercepting and preventing immune-mediated diseases including type 1 diabetes (T1D).
US biopharma Sumitovant – a wholly owned subsidiary of Japan’s Sumitomo Pharma – has closed its purchase of the remaining equity in Myovant Sciences, taking full control of the Swiss clinical-stage biopharma for about $1.7 billion. Myovant will now be delisted from the New York Stock Exchange.
Solvay’s venture capital fund has joined the Genesis Consortium, a global alliance of venture capital firms and corporations that support startups leveraging biotechnology to promote both human and planetary health.
In its third fundraising round in less than two years, Hong Kong-listed globally active CDMO giant GenScript Biotech has netted a fresh $224 million capital injection for its biologics subsidiary ProBio, which was officially launched under that name in 2020.
US biopharma manufacturing and technology company National Resilience has entered into an agreement with Abu Dhabi investor Mubadala Investment Company to build a manufacturing plant in the United Arab Emirate’s biggest city. This will be the first GMP biopharma facility in the UAE.
Canadian pharma Sunshine Biopharma has taken over compatriot company Nora Pharma for C$30 million.
Göttingen, Germany-based life science group Sartorius, through its French-listed subgroup Sartorius Stedim Biotech, plans to acquire all shares of Nottingham, England’s Albumedix, a specialist in recombinant albumin-based solutions, for about £415 million.
Cytiva, the former biopharma activities of General Electric and now part of Danaher, will open a new manufacturing facility in Grens, Switzerland, on May 31. Operations at the existing site in Eysins will continue through 2023, while full production transfers to the Grens site.
Symeres, a Dutch CDMO and contract research organization, has acquired Organix, a US-based specialized organic chemistry services producer that focuses on lipids. The two firms are highly complementary and the combination unlocks significant strategic value, said Symeres, which generates nearly 50% of its revenues in the US.
