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Grifols to acquire Novartis' blood transfusion diagnostics unit

November 12, 2013 12:44 AM UTC

Grifols S.A. (Madrid:GRF; NASDAQ:GRFS) will acquire the U.S.-based blood transfusion diagnostics unit of Novartis AG (NYSE:NVS; SIX:NOVN) for $1.7 billion. The unit provides nucleic acid testing, blood testing products and immunoassay reagents to detect infectious disease in blood donations for transfusion or to be used in the plasma fractionating industry. Novartis gained the unit, which had 2012 net sales of about $565 million, through its acquisition of Chiron Corp. in 2006. Grifols said the acquisition will strengthen its diagnostics division. The deal also will complement Grifols' bioscience division, which oversees all activities -- including collection, testing and manufacturing -- covering the use of human plasma for medical conditions such as coagulation disorders and immune deficiencies. The boards of both companies have approved the deal, which is expected to close next half. ...