Novartis to sell blood-transfusion diagnostics ops for $1.675B

|By:, SA News Editor

Novartis has agreed to sell its blood-transfusion diagnostics unit to Spanish healthcare company Grifols for $1.675B in a move that is part of the Swiss pharmaceuticals group's plan of selling smaller units in order "to focus more sharply on our strategic businesses."

The subsidiary generated 2012 net sales of $565M.

Novartis' companion diagnostics unit, which is integrated into the company's pharmaceuticals operations, is not included in the deal, nor is its Genoptix business, as both are closely linked to its drugs pipeline. (PR)