Wolf Theiss has advised the US pharmaceutical giant Baxter on the sale of its commercial vaccine business to Pfizer for a reported USD 635 million.
Baxter's commercial vaccine business, which has had an annual turnover in recent years of USD 300 million, develops vaccines against, among other things, meningitis and influenza. 80 percent of the Baxter BioScience portfolio was produced by the 4,400 employees in Austria and exported to more than 100 countries worldwide. Baxter had earlier posted international vaccine sales of USD 110 million in the second quarter, while Pfizer, the largest U.S. drugmaker, reported that its global vaccines business had sales of USD 1.1 billion in the second quarter.
Wolf Theiss Corporate and M&A Partner Horst Ebhardt led the deal, supported by Counsel Hartwig Kienast, and Associates Karin Stauber and Christoph Zechner. Partner Kurt Retter worked on all Public Law aspects, with the assistance of Senior Associate Wolfram Schachinger. Tax Partner Niklas Schmidt and Employment Counsel Walter Poeschl were also involved, as was Intellectual Property expert Counsel Roland Marko and Real Property Counsel Karl Binder. The Wolf Theiss office in Prague was involved as well, in the persons of Libor Prokes, Anna Diblikova, Bill Finney, and Pavel Srb.
