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DRUGS & DEVELOPMENTS
MARKET INTEL by PharmaCompass
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By PharmaCompass
2019-02-28
Impressions: 174
The biggest M&A news this week was Danaher Corporation’s definitive agreement with General Electric Company to acquire the biopharma business of GE Life Sciences for a cash purchase price of approximately US$ 21.4 billion.
Danahar was co-founded by billionaire Steven Rales, who co-produced Wes Anderson’s latest animated movie Isle of Dogs. Though he walked away empty handed from Sunday night’s Academy Awards, Rales emerged a winner the next day when Danaher acquired GE’s biopharma business.
GE Biopharma is a leading provider of instruments, consumables, and software that support the research, discovery, process development and manufacturing workflows of biopharmaceutical drugs. The business comprises of process chromatography hardware and consumables, cell culture media, single-use technologies, development instrumentation and consumables, and service.
The GE Life Sciences unit will join Danaher’s US$ 6.5 billion Life Sciences segment as a stand-alone business. The GE Biopharma unit is expected to generate annual revenue of about US$ 3.2 billion in 2019, with approximately 75 percent of these revenues considered recurring. The deal will see Danaher pay US$ 21 billion in cash, as well as assume certain GE pension liabilities.
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