BioPharma Solutions

History

2023: Advent International bought BioPharma Solutions for $4.25 billion

On May 8, 2023, Baxter International announced that it had signed a definitive agreement to sell its BioPharma Solutions division. Investment firms Advent International and Warburg Pincus will act as buyers, and the deal will amount to $4.25 billion.

BioPharma Solutions is a contract manufacturing organization providing services for the pharmaceutical and biotechnology industries. These are, in particular, specialized contracting services relating to cytotoxic highly active products; services for the manufacture of dosage forms and the development of drugs, including using modern lyophilization methods; filling syringes, cartridges and vials for clinical studies, etc.

Baxter sold its BioPharma Solutions division

Under the terms of the contract, the transaction will be carried out at the expense of funds. The merger is scheduled to be completed in the second half of 2023 after obtaining the necessary regulatory approvals and subject to other normal requirements. The assets transferred include BioPharma Solutions production facilities and approximately 1,700 employees in Bloomington (Indiana, USA) and Halle (Germany).

Given our deep industry experience and significant strategic resources, we believe that this partnership can open up many opportunities for growth and help the business realize its full potential through serving large customers, including Baxter, "said John Maldonado, Managing Partner of Advent.

As part of the deal, Perella Weinberg Partners serves as financial advisor and Sullivan & Cromwell serves as legal counsel to Baxter. Advent and Warburg Pincus firms receive financial and legal assistance from specialists from Moelis & Company LLC, Truist Securities, Cleary Gottlieb Steen & Hamilton and Ropes & Gray.^[1]

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