Baxter to sell contract manufacturing business for $4.25 billion
In line with a trend for big life science firms to divest non-core operations, medtech giant Baxter International (NYSE: BAX) is to sell off its biopharma manufacturing unit.
BioPharma Solutions (BPS), a contract development manufacturing organization (CDMO), offers services such as manufacturing and packaging of sterile injectables such as vaccines.
The business will be bought by private equity firm Advent International and growth investor Warburg Pincus, for $4.25 billion in cash.
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