Biotest agrees to sell its Medical Diagnostics business to Bio-Rad Biotest AG:
Biotest AG / Disposal
23.10.2009
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Biotest agrees to sell its Medical Diagnostics business to Bio-Rad
* Even stronger focus on plasma protein business and the clinical
development of biotherapeutics
* Transaction is expected to close in Q1 2010; purchase price amounts to
EUR45 million
Dreieich, 23 October 2009. Biotest AG announced today that it has signed an
agreement to sell major parts of its Medical Diagnostics segment to Bio-Rad
Laboratories, Inc. (Hercules, CA/USA), a multinational manufacturer and
distributor of life science research and clinical diagnostic products. The
transaction is subject to certain closing conditions, including merger
approval, and is expected to close in the first quarter of 2010.
According to the terms of the transaction, Bio-Rad will acquire all shares
of Biotest Medical Diagnostics GmbH (Dreieich) and Biotest Diagnostics
Corporation (Rockaway/USA). In addition, the transaction comprises the
transfusion and transplantation diagnostic businesses of Biotest Group's
international subsidiaries under an asset deal. The purchase price amounts
to EUR45 million. In the first half of 2009, the Medical Diagnostic
activities to be sold achieved sales of approx. EUR21 million and
contributed about 9% to the Biotest Group revenue.
With the planned disposal, the Biotest Group intends to sharpen its focus
on developing and marketing innovative pharmaceutical and biotherapeutic
drugs in immunology and haematology. Microbiological Monitoring will also
remain a strategic core competence of the Group.
Professor Dr. Gregor Schulz, Chairman of the Management Board of Biotest AG
commented: 'The Medical Diagnostics segment lacked critical mass, despite
having significantly increased its competitiveness especially in the US
market. Its integration into the multinational Bio-Rad Group will open up
better growth prospects for the business division and its more than 220
employees.'
Disclaimer
This document contains forward-looking statements on overall economic
development as well as on the business, earnings, financial and assets
position of Biotest AG and its subsidiaries. These statements are based on
current plans, estimates, forecasts and expectations of the company and are
thus subject to risks and elements of uncertainty that could result in
significant deviation of actual developments from expected developments.
The forward-looking statements are only valid at the time of publication.
Biotest does not intend to update the forward-looking statements and
assumes no obligation to do so.
About Biotest
Biotest is a provider of pharmaceutical and biotherapeutic drugs as well as
reagents and systems for diagnostics and microbiology. With a value added
chain that extends from pre-clinical and clinical development to worldwide
sales, Biotest has specialised primarily in the areas of application of
immunology and haematology. In its Plasma Protein segment, Biotest develops
and markets immunoglobulins, coagulation factors and albumins based on
human blood plasma. These are used for diseases of the immune and
haematopoietic systems. In the Biotherapeutic segment, Biotest researches
into the clinical development of monoclonal antibodies, including in the
indications of rheumatoid arthritis and cancer of plasma cells. The
products of the Microbiological Monitoring segment are primarily used in
hygiene monitoring, while those of Medical Diagnostics are used, for
example, in blood transfusions and transplants. Biotest has more than 2,000
employees worldwide. The preference shares of Biotest AG are listed in the
SDAX on the Frankfurt stock exchange.
Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, www.biotest.de
Dr. Monika Buttkereit
tel.: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
fax: +49 (0) 6103 801-347
Securities' ID No., ISIN ordinary shares: 522720, DE0005227201
Securities' ID No., ISIN preference shares: 522723, DE0005227235
Listing: Prime Standard/Official traded
Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart
23.10.2009 Financial News transmitted by DGAP
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Language: English
Company: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Deutschland
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
E-mail: investor_relations@biotest.de
Internet: http://www.biotest.de
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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