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 - (129 views)
Related articles
Fuse and Power Distribution Module
Online Water Analysis System
World's Largest PEM Electrolyzer for Green Hydrogen
Efficient Video Inspection of Complex Piping Systems
Teledyne to Acquire FLIR Systems
Redundant Control System for Increased Operational Certainty in Emergency Shut Down Situations
AC Powered Linear Actuator
Safety over Ethernet-APL
New Responsibilities at BASF
Versatile Multi-Purpose Indicator
Handle with CO.RA
The Italian Manufacturer of Rupture Discs
Absolutely Efficient. JUMO dTRANS T09 Cable transmitter for temperature.
SPSConnect: The Digital Automation Hub
Inspiring Sustainable Connections
FLIR GF 77. The Groundbreaking, Affordable OGI Camera
Our Solutions, as Individual as You.
handle with... CO.RA
On-line Turbidity Measurement
Customized Pump Technology. For Life.
Dome Pressure Regulator with Integrated Digital Sensor Technology
Robust Differential Pressure Transmitter
Easy to Install Gas Detection Solution
Flexible Hygienic Tubing
Hermetic Pressure Sensors with High Accuracy
Pressure Sensors in Hydraulic Presses
Wireless Heavy-Duty Transmitter
Sensata Launches New Low Noise Solid State Relays
Multifunctional Transmitters for SIL and Ex Applications
Low-Cost Optical Gas Imaging Camera for Leak Detection
Strenghten Factory Resilience with Unique Solution for Predictive Maintenance
Protect Machines Using Sound, IoT and AI
From Buffalo Mozzarella to Green Energy
Sensor for Easy Condition Monitoring
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