Talecris acquires plasma assets of Bayer
Bayer has completed its previously announced transaction to contribute the assets of its worldwide plasma products business to Talecris BioTherapeutics, a newly formed corporation controlled by affiliates of Cerberus Capital Management, New York, and Ampersand Ventures, Wellesley, Massachusetts.
Bayer has completed its previously announced transaction to contribute the assets of its worldwide plasma products business to Talecris BioTherapeutics, a newly formed corporation controlled by affiliates of Cerberus Capital Management, New York, and Ampersand Ventures, Wellesley, Massachusetts.
The overall transaction volume amounts to approximately $590m (€450m), including cash; a 10% equity interest in Talecris BioTherapeutics Holdings; retention of selected working capital items, and contingent payments of up to $60m.
All plasma activities in the US were transferred to Talecris, which is maintaining its headquarters in Research Triangle Park, N.C. In most other countries in which Bayer has been distributing plasma products, Bayer companies will continue to distribute on behalf of Talecris. The two companies have also entered into several service and supply arrangements.
However, the recombinant factor VIII business, comprising the Kogenate product line for the treatment of hemophilia A, is not part of the transaction and remains in Bayer HealthCare's portfolio: 'Kogenate is one of the most valuable and strategically important products in the Bayer HealthCare portfolio. It is integral to our long-term strategy as we continue to realign our business, and allows us to build on our leadership position in the global hemophilia market,' said Arthur Higgins, chairman of the executive committee of Bayer HealthCare.
'Divesting the plasma business is a further important strategic step towards Bayer HealthCare's realignment,' commented Werner Wenning, ceo, Bayer. 'We are now focusing our resources on the consumer health business, medicines for humans and animals, and high-performance diagnostic systems.' Bayer have already closed the acquisition of Roche's consumer health activities this year.
Bayer's sales of plasma products in 2004 totaled €660m. They include Polyglobin, Gamimune N and Gamunex for the treatment of immunodeficiency disorders, and Prolastin for the treatment of congenital pulmonary emphysema.