BTG Specialty Pharmaceuticals

History

2020: Stark International Lux purchased BTG Specialty Pharmaceuticals for $800 million

At the beginning of December, 2020 Boston Scientific announced sale of the division of BTG Specialty Pharmaceuticals which is engaged in production of antidotes. Business was purchased for $800 million Stark International Lux S.A.R.L. and SERP SAS company which are the child organizations of the European specialized pharmaceutical SERB group.

SERB produces prescription drugs, focused on rare and life-threatening diseases, and BTG develops, makes and sells the vital antidotes which are used both in hospitals, and in organizations of emergency aid. Its product line includes CroFab, DigiFab and Voraxaze which, according to Boston Scientific, in total will bring in 2020 income of about $210 million.

Boston Scientific sold business on production of antidotes for $800 million Stark International Lux company

According to the agreement the SERB company will receive in total five production facilities and about 280 employees worldwide. It is expected that the deal will be closed in the first half of 2021.

This transaction will help business of BTG Specialty Pharmaceuticals to implement the capacity of completely integrated specialized pharmaceutical platform, - the president of BTG Anthony told Higham (Anthony Higham). - We consider that our opportunities and a portfolio will significantly add possibilities of SERB so we hope, as we will continue to help people with emergency situations further.

According to the executive vice president of Boston Scientific Jeff Mirviss, the company purchased business of BTG for $3.7 billion in 2019 and upon completion of the transaction is going to sell two rests of business of BTG which are not connected with production of the medical equipment for more than to $1 billion. The division of Interventional Medicines which already brought Boston Scientific over $175 million^[1] was a main objective of purchase of BTG]

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