Novartis Confirms Offer for Diagnostic Arm From Siemens Healthineers
By Anthony O. Goriainoff
Novartis confirmed that it has received a binding offer from Siemens Healthineers to buy its molecular imaging business for an undisclosed amount.
The Swiss pharma major said Monday that the divestment was part of a strategic assessment, which concluded that growth of its diagnostic arm would be best supported if under the ownership of a dedicated diagnostics shareholder.
It added that as part of the transaction--which is expected to close in the fourth quarter--Siemens Healthineers will remain a partner for the Novartis radioligand therapy business.
"This would allow Novartis to continue focusing its own efforts and capabilities as a pure-play innovative medicines company, aiming to reimagine cancer care with radioligand therapy," the company said.
Radioligand therapy is a type of targeted nuclear medicine used in the treatment of multiple types of cancer.
Novartis didn't disclose any financial details. However, a report from the Financial Times says the deal is worth around 200 million euros ($223.9 million).
Siemens Healthineers didn't respond to a request for comment from Dow Jones Newswires.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
August 26, 2024 05:47 ET (09:47 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks