BOCA RATON, Fla., Dec. 4 /PRNewswire/ -- Biotest Pharmaceuticals Corporation, a leading developer of immunology biotherapeutic products, today announced that it has completed the acquisition of the Nabi Biopharmaceuticals (Nasdaq: NABI) Biologics business unit for $185 million in cash. Biotest Pharmaceuticals is a wholly-owned subsidiary of Biotest AG, which announced the acquisition of the Nabi Biologics product pipeline (including Nabi-HB(R)), a state-of-the-art plasma protein production plant, the Boca Raton headquarters and nine FDA- and European-certified plasma collection centers across the U.S. in September 2007. This acquisition also includes certain assets in Nabi's Corporate Shared Services group.
Biotest has submitted applications for manufacturing and sales and wholesale distribution with the U.S. Food and Drug Administration and the Florida Department of Health that, when issued, will enable Biotest to assume full manufacturing and sales operations in the United States. Until the licenses have been transferred to Biotest Pharmaceuticals, Nabi will continue to have regulatory oversight and operational authority for the manufacture, marketing, sale and distribution of Nabi-HB.
"We are extremely pleased with the smooth transition and successful completion of the acquisition," said Professor Dr. Gregor Schulz, Chairman of the Management Board of Biotest AG. "Biotest AG has now become a global player in the industry with a share in the highly attractive and growing U.S. plasma protein market. With the creation of Biotest Pharmaceuticals, Biotest AG has substantially expanded its capacity, product range and clinical development portfolio."
The successful completion of this transaction enables Biotest Pharmaceuticals to address the U.S. annual demand of more than 30 tons of immunoglobulins -- approximately one-third of all global demand. This acquisition also places Biotest AG among the most important plasma producers worldwide.
"This acquisition allows Biotest Pharmaceuticals to not only tap into the U.S. plasma marketplace, but also build upon our new foundation of experience -- we have been extremely impressed by the quality and capacity of our new production facilities and the proven expertise of our new employee base," said Dr. Rainer Pabst, the newly-named Chief Executive Officer of Biotest Pharmaceuticals. "We are looking forward to building upon this foundation to reach our goals of continued growth and an expanded range of top-quality plasma products."
In addition to Nabi-HB, Biotest Pharmaceuticals is currently working to develop its pipeline of new plasma-based products including IVIG, a polyvalent immunoglobulin in Phase III and Civacir(R) in Phase IIb for the prevention of hepatitis C in liver transplant patients.
About Biotest Pharmaceuticals Corporation
Biotest Pharmaceuticals Corporation develops and manufactures pharmaceutical and biotherapeutic products with a specialization in immunology. Biotest Pharmaceuticals will offer the hyperimmunoglobulin Nabi- HB(R), a key product used in the prevention of hepatitis B. Biotest Pharmaceuticals also is currently working to develop additional products including a polyvalent immunoglobulin (IVIG, Phase III) and Civacir(R) (Phase IIb), for the prevention of hepatitis C in liver transplant patients. Biotest Pharmaceuticals was formed in 2007 as part of the Biotest AG acquisition of Nabi Pharmaceuticals' Biologics business unit, including its plasmapheresis centers across the United States. The company employs approximately 500 people in the U.S. Biotest Pharmaceuticals is a subsidiary of Biotest AG, a German-based global provider of plasma proteins that employs approximately 1,750 people worldwide.
About Biotest AG
Biotest AG, Dreieich, Germany, is a company that researches and manufactures pharmaceutical, biotherapeutic and diagnostic products and has specialized in immunology and hematology. In its Pharmaceutical segment, Biotest AG develops and markets immunoglobulins, clotting factors and albumins based on human blood plasma. These are used for diseases of the immune system or hematopoietic system. In the Biotherapeutic segment, Biotest AG researches in the clinical development of monoclonal antibodies, including in the indications of rheumatoid arthritis and blood cancer. The Diagnostic segment spans reagents and serology and microbiology systems which are predominantly used in hygiene control, as well as serology, used, for example, in blood transfusions. Biotest AG has around 1,750 employees worldwide and its shares are listed in the Frankfurt Stock Exchange's Prime Standard.
SOURCE Biotest Pharmaceuticals Corp.