By Michael Dabaie

Baxter International Inc. (BAX) said it would acquire Seprafilm Adhesion Barrier and related assets from Sanofi (SNY).

The transaction contemplates a cash purchase price at closing of $350 million, Baxter said. The company said it expects the deal to close no later than the first quarter of 2020.

Seprafilm currently has a presence including sales in countries such as the U.S., Japan, China, South Korea and France. Sales of the proposed acquired products are expected to be approximately $100 million in the 12 months following close, Baxter said.

Baxter said it plans to provide commercial support for the product through its surgery salesforce and pursue opportunities for expansion.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

December 02, 2019 08:01 ET (13:01 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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