Baxter to divest biopharma business for $4.25 billion

📆 5/8/2023 9:20 PM
📰 Reuters

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Baxter International Inc said on Monday a private-equity group, which includes Warburg Pincus and Advent International, has agreed to buy its biopharma solutions unit for $4.25 billion.

said on Monday a private-equity group, which includes Warburg Pincus and Advent International, has agreed to buy its biopharma solutions unit for $4.25 billion.

Baxter announced its intent to explore alternatives for its biopharma solutions business and spin off its kidney care units in January, stating the restructuring will allow greater alignment with the company's manufacturing footprint.the private-equity consortium was in the lead to acquire Baxter's biopharma solutions business.

Baxter estimates the transaction will reduce the company's earnings by about $0.10 per share in the fourth quarter.

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