Sartorius AG and Stedim Biosystems Join Hands for Disposables
Sartorius AG (Goettingen, Germany, www.sartorius.com) has acquired a substantial stake in the biopharmaceutical supplier Stedim Biosystems S.A (Aubagne, France, www.stedim.com) and combined its biotechnology division with Stedim.
Sartorius AG (Goettingen, Germany, www.sartorius.com) has acquired a substantial stake in the biopharmaceutical supplier Stedim Biosystems S.A (Aubagne, France, www.stedim.com) and combined its biotechnology division with Stedim.
Under the terms of this agreement, Sartorius will pay €43 per share. After completing this transaction, Sartorius will become Stedim’s majority owner controlling the combined company. The combined company will be named Sartorius Stedim Biotech S.A.
“Given the strong double-digit growth rates in the biopharmaceutical markets and the shift in our markets toward disposable solutions, this is the ideal time for our biotech division and Stedim to come together,” said Dr. Joachim Kreuzburg, CEO and chairman of the executive board of Sartorius. The overall transaction, which is subject to approval by Stedim’s shareholders and to regulatory clearance, is expected to be completed in summer 2007.
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