Boston Scientific (NYSE:BSX) entered into a definitive agreement to sell the its BTG Specialty Pharmaceuticals business to Stark International Lux and SERB SAS, affiliates of SERB, a European specialty pharmaceutical group for $800M in cash.
The BTG Specialty Pharmaceuticals business develops, manufactures and commercializes life-saving antidotes used in hospitals and emergency care settings, including the clinically proven and leading products CroFab, DigiFab, and Voraxaze. The three franchises are expected to generate ~$210M in revenue for the full year 2020.
Divestiture follows the transfer of five facilities and ~ 280 employees globally.
