Baxter to Acquire Seprafilm Adhesion Barrier from Sanofi
03 December 2019 - 12:16AM
Dow Jones News
By Michael Dabaie
Baxter International Inc. (BAX) said it would acquire Seprafilm
Adhesion Barrier and related assets from Sanofi (SNY).
The transaction contemplates a cash purchase price at closing of
$350 million, Baxter said. The company said it expects the deal to
close no later than the first quarter of 2020.
Seprafilm currently has a presence including sales in countries
such as the U.S., Japan, China, South Korea and France. Sales of
the proposed acquired products are expected to be approximately
$100 million in the 12 months following close, Baxter said.
Baxter said it plans to provide commercial support for the
product through its surgery salesforce and pursue opportunities for
expansion.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
December 02, 2019 08:01 ET (13:01 GMT)
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