Baxter biopharma solutions unit seeing interest from Thermo Fisher, Celltrion - report
Mar. 20, 2023 9:43 PM ETBaxter International Inc. (BAX), TMOKKR, CGBy: Joshua Fineman, SA News Editor
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- Thermo Fisher (NYSE:TMO) and South Korea's Celltrion are competing for Baxter's (NYSE:BAX) Biopharma Solutions unit in a sale that could value the business at more than $4 billion.
- Private equity firms Including KKR (KKR) and Carlyle Group (CG) have also expressed interest in the Baxter unit, according to a Reuters report, which cited people familiar. Other bidders for unit could still emerge.
- The report comes after Baxter (BAX) in January announced it was seeking strategic alternatives for the BioPharma Solutions business, which provides contract manufacturing services to the healthcare industry.
- Baxter (BAX) also said at the time it planned to spin off its Renal Care and Acute Therapies global business units into a separate, publicly traded company.