News

Baxter buys Swedish Gambro
Enlarge image

BusinessSweden

Baxter buys Swedish Gambro

05.12.2012 - Baxter International Inc. strengthens its dialysis business with the acquisition of Swedish Gambro AB.

Private equity investors sold the firm for about US-$4bn. Gambro has a product portfolio in global home dialysis. The acquisition positions Baxter as the worldwide number two in the dialysis market. The Swedish firm had about US$1.6bn in sales last year. Gambro is owned by Sweden’s EQT Partners AB and Investor AB which is the investment firm controlled by Sweden’s billionaire Wallenberg family.

According to sources, the negotiations started as early as one year ago.Matt Miksic, analyst with Piper Jaffray, welcomed the acquisition in a telephone interview with Bloomberg. “Baxter's renal division is a little bit undersized relative to some of their other businesses; this balances that a bit and gives it a little more weight.” “Both companies have a longstanding heritage in kidney care with innovative technologies and a dedication to saving, sustaining and improving the lives of patients worldwide,” said Guido Oelkers, president and chief executive officer of Gambro.

According to Baxter dialysis is a market that grows by more than 5% per year. The Gambro deal is a further step in the consolidation of the kidney dialysis market, where Gambro and Baxter compete against companies including U.S.-based DaVita HealthCare Partners Inc and Germany's Fresenius Medical Care AG. Baxter manufactures kidney dialysis equipment, drug infusion pumps and blood therapy products. The Gambro acquisition will round out Baxter's renal business, which accounted for almost one-fifth of the company's 2011 revenue of US-$13.89bn.

© eurobiotechnews.eu/pd

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NOVACYT (F)4.97 EUR11.43%
  • PROSENSA (NL)10.24 USD5.89%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK5.71%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • STENTYS (F)7.26 EUR-12.32%

TOP

  • WILEX (D)2.70 EUR229.3%
  • NEUROVIVE PHARMACEUTICAL AB (S)74.00 SEK52.6%
  • Allergy Therapeutics (UK)20.00 GBP34.4%

FLOP

  • HYBRIGENICS (F)1.68 EUR-29.7%
  • GW PHARMACEUTICALS (UK)418.50 GBP-20.1%
  • PHARMING (NL)0.44 EUR-20.0%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)418.50 GBP634.2%
  • PAION (D)2.50 EUR284.6%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.7%
  • CYTOS (CH)0.27 CHF-92.0%
  • THROMBOGENICS (B)9.16 EUR-70.3%

No liability assumed, Date: 31.07.2014