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Novartis sells blood testing unit for $1.7bn

This article was originally published in Scrip

Executive Summary

Novartis is selling its blood transfusion diagnostics business to Spanish group Grifols for $1.675bn. The pharma giant says that offloading the unit will mean it can "focus more sharply on our strategic businesses." The firm acquired the franchise with its 2006 purchase of Chiron. Novartis is hanging on to some of its diagnostic capabilities: namely, the companion diagnostics unit and its Genoptix business, which are closely linked to its pharmaceutical pipeline. The deal is expected to close in the first half of 2014.



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