GE To Sell Its BioPharma Unit

  Enquiry / contact me

Danaher will acquire it for $21.4 billion

Images credit: GE Healthcare Life Sciences
Images credit: GE Healthcare Life Sciences

GE announced plans to sell its BioPharma business to Danaher for approximately $21.4 billion, including $21 billion in cash. GE Chairman and CEO H. Lawrence Culp Jr. said the deal was a “pivotal milestone” that “demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and strengthen our balance sheet.” The BioPharma business, which is part of GE Healthcare’s Life Sciences division, generated approximately $3 billion in revenue last year. The deal will establish the business as a stand-alone company within Danaher’s existing Life Sciences platform and give it access to additional resources to grow.

The BioPharma unit manufactures equipment and special resins that help pharmaceutical companies to discover and mass produce biopharmaceuticals like Humira, Remicade and Rituxan, which are designed to fight autoimmune diseases such as rheumatoid arthritis and psoriasis. It is also helping vaccine developers and researchers explore immunotherapy. This emerging type of treatment uses viruses and other tools to reprogram and harness the body’s immune cells to help the immune system sniff out and kill cancer and other diseases.

GE said GE Healthcare would retain the second key part of GE’s Life Sciences business Pharmaceutical Diagnostics, a unit developing contrast media used by radiologists. The unit is a global leader in pharmaceutical diagnostics for medical imaging, used in more than 90 million patient procedures each year.
The sale is expected to close in the fourth quarter of 2019.
 

Posted on March 4, 2019 - (109 views)
Related articles
The Ultimate Solution for Temperature and Gas Monitoring
Always working when you need it.
Precious Resource FOR LIFE
Intelligently Combined
Handle with.... CO.RA
Offering diversity. Ensuring protection. Perfecting performance.
On-line Turbidity Measurement
Intrinsically Safe Pressure Transmitter
FIND OUR NEW RANGE OF RUPTURE DISCS AT ADIPEC 2019
Universally digitized
Benchtop Lab Gas Analyzer for Hydrogen Sulfide
Safeguarding Staff from Carbon Monoxide Leaks
Achieve the Highest Lockout/Tagout Safety with Highly Innovative SafeKey Lockout Padlocks
FIND OUR NEW RANGE OF RUPTURE DISCS AT ADIPEC 2019
Modbus Temperature Probe
Affordable OGI Camera for Methane Detection
Brady Inspection Timer
Wearable Camera & Thermal Imager
Modular Wireless IoT Solution
Detecting SF6 Leaks from Electrical Circuit Breakers
Sensor for Easy Condition Monitoring
Achieve the Highest Lockout/Tagout Safety with Highly Innovative SafeKey Lockout Padlocks
Brady Inspection Timer
HD Optical Gas Imaging Camera Improves Inspection Safety
Flowmeter for the Precise Detection of Media Changeover
Digitalization will be the Number 1 Trend at ADIPEC 2018
Efficient Supply and Transport of Goods
Vial and Bottle Labeller
Spiral Retaining Ring
Portable Area Lighting System 9455Z0 RALS