Sources Say Fresenius May Acquire Pfizer Medical Devices Arm for About $1.5 Billion
June 24 2016 - 12:26PM
Dow Jones News
By Heide Oberhauser-Aslan
FRANKFURT--German healthcare company Fresenius SE & Co. KGaA
(FRE.XE) has a good chance of acquiring Pfizer Inc.'s (PFE) medical
devices arm in a deal that could be announced soon, according to
two people familiar with the matter.
These people say that Fresenius could pay some $1.5 billion for
the business, which Pfizer acquired last year when it bought
Hospira Inc. for around $16 billion. Hospira manufactures
injectable drugs and infusion technologies and biotech-drug
knockoffs called biosimilars. When Pfizer bought Hospira last year,
it was clear that Pfizer was mainly interested in the smaller
competitor's biosimilars business and would probably put the
medical-devices arm up for sale.
The medical-device business, which includes infusion pumps,
would boost Fresenius' in the U.S., where its Fresenius Kabi unit,
which also sells infusion technology, doesn't yet have a strong
presence.
A Fresenius spokesman declined to comment on the matter. Pfizer
wasn't immediately available to comment.
Write to Heide Oberhauser-Aslan at heide.oberhauser@wsj.com
(END) Dow Jones Newswires
June 24, 2016 12:11 ET (16:11 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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