FSNUY - Fresenius Kabi bolsters biosimilar infusion businesses with mAbxience and Ivenix deals

Fresenius Medical Care's (FMS +0.3%) Fresenius Kabi subsidiary has inked two deals including the acquisition of infusion system provider Ivenix and taking a majority stake in mAbxience, whose pipeline is focused on biosimilars. Terms of the Ivenix acquisition call for Fresenius Kabi (FSNUF +9.5%) to provide an upfront payment of $240M, as well as milestone payments. Privately held Ivenix, which is based in Massachusetts, markets a large volume infusion pump and an infusion management system. This transaction is expected to close by mid year. Fresenius Kabi (FSNUY +0.9%) is acquiring a 55% stake in Madrid-based mAbxience for €495 million (~$547.7M) upfront as well as milestone payments. MAbxience already markets biosimilars of the oncology therapies Rituxan (rituximab) and Avastin (bevacizumab). In its pipeline, it has two biosimilar candidates in mid-stage development: One for infectious disease and the other for bone diseases. This deal is also expected to close by mid year.

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Fresenius Kabi bolsters biosimilar, infusion businesses with mAbxience and Ivenix deals