April 4, 2022 |
Argentine pharmaceuticals producer Insud Pharma has reached a deal to sell a 55% stake in mAbxience, a Madrid-based biotechnology company, to German counterpart Fresenius Kabi for €495 ($547 million), the buyer and seller said in separate statements late on Thursday.
Fresenius Kabi said it will finance the purchase through cash flow and liquidity.
The deal will help fuel mAbxience's growth in the production of biological drugs, both companies said.
Since its founding in 2010, mAbxience has built
Argentine pharmaceutical company agrees to sell 55% of the biotech company to Germany's Fresenius Kabi