SRTOY - Sartorius Stedim acquires Novasep's chromatography division; boosts sales guidance

Sartorius Stedim Biotech (OTCPK:SDMHF) closed the acquisition of Novasep's chromatography division, following approval by the U.S. Federal Trade Commission. The acquisition, which was announced in January 2021, was expected to be completed in H1 2021. The acquired business generated sales of ~€40M in 2020. Majority of the ~100 employees work at the Pompey site in eastern France and some in the U.S., China, and India. The portfolio acquired comprises chromatography systems primarily suited for smaller biomolecules, such as oligonucleotides, peptides, and insulin, as well as innovative systems for continuous manufacturing of biologics. Since 2018, Novasep and Sartorius Stedim Biotech have also been developing optimized systems for a membrane-based chromatography technology. The company said as the acquisition is expected to generate additional sales revenue growth of around 1% point in 2022, it has updated its guidance. The company now expects its sales revenue to increase by ~15% to 19% (previously ~14% to ~18%),

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Sartorius Stedim acquires Novasep's chromatography division; boosts sales guidance