Siemens Healthineers To Buy Novartis Diagnostics To Bolster Cancer Scan Business In $220M Deal

Siemens Healthineers agreed to acquire Novartis AG’s (NYSE:NVS) diagnostics arm for $223.5 million (200 million euros) in a deal meant to enhance its cancer treatments.

Both companies confirmed the acquisition, and it involved Advanced Accelerator Applications, a division Novartis purchased in 2017.

The Financial Times reported that Advanced Accelerator Applications operates Europe's second-largest network of cyclotrons. The unit produces radioactive compounds essential for positron emission tomography (PET) scans that detect cancer and other diseases.

Also Read: Judge Rules Against Novartis’ Effort To Halt Generic Launch Of Its Top-Selling Heart Disease Drug.

The deal will expand Siemens Healthineers’ PET radiopharmaceuticals business—the world's largest—into Europe, strengthening its leading position in the ...

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Siemens Healthineers To Buy Novartis Diagnostics To Bolster Cancer Scan Business In $220M Deal

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