Novartis in $1.68B Blood Unit Deal With Grifols

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Nov. 11 (Bloomberg) -- Bloomberg’s Ryan Chilcote reports that Novartis has agreed to sell a blood transfusion diagnostics unit to Grifols for $1.68 billion in the company’s biggest asset sale in five years. He speaks on Bloomberg Television’s “The Pulse.”

Ryan chilcote joins us with more details.

Novartis agreed to sell this unit.

They are selling it for about $1.7 billion.

It is their biggest asset sale in five years.

We spoke with the ceo this morning.

He says this is not a strategic business for them.

They pick it up and it was a good business, but not one they intended to grow rapidly.

Grifols, this is a good fit for them.

It is a good deal for both sides , at least as far as management is concerned.

Another deal we are watching is shyer.

It is said to be buying viropharma.

They are expanding the portfolio of drugs for rare diseases.

Hae is a nasty, hereditary blood disorder.

It affects about 18,000 people in european union and the united states.

Shire was already making an on demand drug for hae.

Viropharma makes a drug for the prevention of hae.

This is an expansion of the drugs they make for that specific aziz.

Rare diseases is something that the new ceo said he wants to expand.

They get about 30% of sales from rare diseases.

This will take them up to 40%.

This text has been automatically generated. It may not be 100% accurate.

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