Baxter International To Acquire Immuno AG

US company Baxter International is to acquire the Swiss group Immuno International for the sum of $175 million. The deal will be reached through a three-part transaction that will result in Baxter's full ownership of Immuno in three years, subject to approval by antitrust authorities in Europe and in the USA.

The union of the two firms will result in the creation of the world's biggest provider of products and services for blood transfusion medicine, including biopharmaceuticals, with combined sales for 1995 of $1.6 billion, and 8,900 employees globally.

"We are extremely pleased to have entered into this strategic alliance with Immuno," commented Vernon Loucks, chairman and chief executive of Baxter. "This combination is consistent with the overall strategy of Baxter, which is to focus on global expansion and technological innovations. The alliance yields important benefits for both organizations' customers, employees, and shareholders around the world," he added.