Roman Didkivskyi
Siemens Healthineers (OTCPK:SEMHF) is trying to pay greater than €200M ($224M) to purchase a Novartis (NYSE:NVS) business targeted on producing radioactive chemical compounds for cancer scans, The Financial Times reported Saturday, citing folks accustomed to the matter.
The transaction for the diagnostic arm of Advanced Accelerator Applications, which Novartis (NVS) acquired in 2017, is predicted to shut in This fall 2024, pending regulatory evaluations and discussions with Novartis’ (OTCPK:NVSEF) works council.
AAA runs Europe’s second-largest community of cyclotrons, that are used to manufacture radioactive compounds that assist in cancer detection by positron emission tomography (PET) scans.
Siemens Healthineers (OTCPK:SMMNY) stated that the transaction will assist broaden its US-based PET radiopharma business in Europe. With radioactive compounds having a brief half-life, the German MedTech highlighted the significance of bringing manufacturing nearer to sufferers.
Novartis (OTCPK:NVSEF) determined to sell AAA’s diagnostics business final yr following a $3.9B deal to purchase the French cancer specialist.
Source: Seekingalpha