HemaSure Buys Novo Nordisk Unit
US biotechnology firm HemaSure Inc has acquired the plasma products business of Danish company Novo Nordisk. The purchase price comprises three parts. The first relates to payment for raw materials of around $1.8 million, the second to the sale of inventory, valued at around $13 million, with $4 million forgivable under certain circumstances, and the third is a final contingent payment of approximately $8 million payable in 1998 if certain conditions are met.
The Novo Nordisk plasma unit had revenues of some $20 million in 1995. HemaSure chairman and chief executive Eugene Zurlo says the acquisition is part of his firm's strategy to expand the application of its SteriPath inactivation technology into the plasma pharmaceutical sector. The current market for plasma pharmaceuticals is put at $5 billion worldwide.
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