Abbott and St. Jude Medical, Inc. announced an agreement in principle to sell certain products to Terumo Corporation.
The transaction reflects a purchase price of approximately $1.12 billion and is subject to the successful completion of Abbott’s acquisition of St. Jude Medical and antitrust regulatory approvals. Abbott, St. Jude Medical and Terumo are bound by the terms of an exclusivity agreement.
The divestiture is an all-cash transaction and will include the products globally for St. Jude Medical’s Angio-Seal and Femoseal vascular closure products and Abbott’s Vado Steerable Sheath. Abbott will retain its vascular closure products, which include the Perclose ProGlide Suture-Mediated Closure System, StarClose SE Vascular Closure System and Prostar XL Percutaneous Vascular Surgical System.
Following Abbott’s acquisition of St. Jude Medical, the combined business will compete in nearly every area of the cardiovascular market and hold top positions in high-growth segments, including atrial fibrillation, structural heart and heart failure, as well as a leading position in the high-growth neuromodulation market. This combined portfolio will have the depth, breadth and innovation to help patients restore their health, reduce costs for payors and deliver greater value to customers.
Abbott expects to mitigate any impact to its adjusted earnings per share projections related to the sale of these assets to Terumo.
Source: pharmabiz.com
Avivi joins Bayer fresh off a yearlong stint as chief marketing officer of Advance Auto Parts, which followed about three years spent as marketing chief of another auto parts company, Tenneco. Rounding out her nearly 30-year career in marketing are leadership roles at consumer goods giants Kimberly-Clark and Procter & Gamble.
Air Liquide S.A. (Paris) is continuing its development with the acquisition of Homecare activities in Belgium and the Netherlands. The two entities acquired in Belgium and the Netherlands support 10,000 patients living with respiratory insufficiency, sleep apnea syndrome or requiring infusion or nutrition treatments.
US-based Vertex Pharmaceuticals has agreed to pay approximately $4.9 billion in cash to acquire Alpine Immune Sciences, a compatriot biotechnology company focused on discovering and developing innovative, protein-based immunotherapies.