Nabi Biopharmaceuticals will sell its Biologics unit to Biotest Pharmaceuticals Corp. for $185 million. The purchase includes the unit's products, including Nabi-HB (Hepatitis B Immune Globulin (Human)), and other plasma business assets, as well as Nabi's state-of-the-art plasma protein production plant, and nine FDA-certified plasma collection centers across the U.S. The acquisition will include certain of Nabi's Corporate Shared Services group assets and the company's Boca Raton, FL headquarters and other facilities, along with the assumption of certain liabilities.
"With the acquisition of Nabi Biologics, we have found the ideal complement for our European plasma protein business and have become a global player in the industry," said Professor Dr. Gregor Schulz, chairman of Biotest AG. "We have an immediate share in the highly attractive and growing U.S. plasma protein market and are substantially expanding our capacities, extending our product range and consolidating our clinical development portfolio." Biotest researches and manufactures pharmaceutical, biotherapeutic and diagnostic products and has more than 1,200 employees worldwide.
"This agreement definitively puts us on the final path to a successful outcome of our strategic alternatives process," said Dr. Leslie Hudson, Nabi's interim president and chief executive officer. "We feel this transaction not only will realize value for Nabi shareholders but also will allow us to build on the promise of our Pharmaceuticals pipeline."
Once the transaction closes, Nabi Biopharmaceuticals will operate its Pharmaceuticals unit from its existing Rockville, MD facility, which will become its new corporate headquarters. The company has an on-going trial with NicVax, its innovative and proprietary investigational vaccine for nicotine addiction and the prevention of smoking relapse. The company will continue its efforts to secure a strategic partner for its NicVax and StaphVax programs. Nabi also will retain the right to receive up to an additional $75 million in milestone and royalty payments related to the divestiture of PhosLo in November 2006.