Emergent BioSolutions to purchase a division of Bracco Diagnostics Inc.
Emergent BioSolutions is a pharmaceutical company that offers specialized products to healthcare providers and governments. Their products tend to address medical needs and emerging health threats.
In this deal, Emergent BioSolutions will gain access to HPPD's Reactive Skin Decontamination Lotion, which is a counter chemical lotion that can be used in CBRN situations. Emergent BioSolutions will look to expand sales of RSDL as part of this deal.
"This acquisition directly supports our ongoing growth plan, which includes acquiring revenue generating, profitable products and businesses that address the needs of U.S. and allied foreign governments across the CBRN spectrum," Daniel J. Abdun-Nabi, president and chief executive officer of Emergent BioSolutions, said. "Our relationships, combined with those of HPPD, with the U.S. Government and foreign ministries of defense, as well as worldwide distributor relationships addressing first responder markets, should enable us to grow revenues from RSDL and to expand and enhance Emergent's leadership position as a premier supplier of CBRN countermeasures."
Emergent BioSolutions said the transaction will lead to an increase in revenue and net income, predicting a jump from $290 million to $310 million in total revenue in 2013.