Novartis sells blood transfusion test unit to Grifols for $1.7 billion

[riky]

Novartis sells blood transfusion test unit to Grifols for $1.7 billion

<p><a href="http://news.yahoo.com/novartis-sells-transfusion-diagnostics-unit-grifols-1-7-062430188--finance.html"><img src="http://l1.yimg.com/bt/api/res/1.2/U3VnGU.RtBayMUkdo0N0Og--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-11-11T111944Z_3_CBRE9AA0HSZ00_RTROPTP_2_NOVARTIS-RESULTS.JPG" width="130" height="86" alt="Logo of Swiss drugmaker Novartis is seen at its headquarters in Basel" align="left" title="Logo of Swiss drugmaker Novartis is seen at its headquarters in Basel" border="0" /></a>By Silke Koltrowitz and Sarah White ZURICH/MADRID (Reuters) - Switzerland's Novartis has agreed to sell its blood transfusion testing unit to Spain's Grifols for $1.68 billion, in an increasingly buoyant market for healthcare deals. The sale comes as Novartis carries out a broad review of operations following the departure of veteran chairman and one-time CEO Daniel Vasella, the architect of the merger of Ciba-Geigy and Sandoz that created Novartis in 1996. The acquisition will give critical mass and a significant U.S. presence to Grifols' previously small diagnostics business, which in future will account for a fifth of its revenues. Current Novartis Chief Executive Joe Jimenez and new Chairman Joerg Reinhardt have both stressed they will only hang on to businesses that are among world leaders.</p><br clear="all"/>

Source: You are not allowed to view links. Register or Login