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Home Industry News Fresenius completes sale of biotechnology division

Fresenius completes sale of biotechnology division

4th July 2013

Fresenius has announced the completion of the sale of its biotechnology business unit, Fresenius Biotech, on June 28th 2013.

The company sold off the division to the Fuhrer family, owners of Israel's second-largest pharmaceutical company Neopharm, with the transaction including the Removab and ATG-Fresenius S brands.

In December 2012, the firm announced that it wishes to increase its focus on its Fresenius Medical Care, Fresenius Kabi, Fresenius Helios and Fresenius Vamed business segments and this move comes as part of this strategy.

The sale of Fresenius Biotech will have a positive effect on group earnings from July 2013 onwards.

Ulf Mark Schneider, chief executive officer of Fresenius, said: "We are delighted that our biotechnology business will be in the capable hands of Neopharm, a company with entrepreneurial vision and an outstanding track record in the healthcare field."

The Fresenius group employs around 170,000 people worldwide and serves customers in more than 100 countries.ADNFCR-8000103-ID-801608198-ADNFCR

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