Siemens Healthineers to buy Novartis radiopharma unit for over $224 million: Report

DOTmed August 26, 2024
Gus Iversen

Siemens Healthineers is purchasing the diagnostic business of Novartis subsidiary Advanced Accelerator Applications for over €200 million ($224 million), according to a new report. Advanced Accelerator Applications, which was bought by Novartis in 2017 for $3.9 billion, operates Europe’s second largest network of cyclotrons.

According to the Financial Times, Siemens Healthineers said the deal would allow its US-based PETNET Solutions radiopharmaceuticals business to expand into Europe.

Murmurs about a potential sale for parts of the AAA business surfaced late last year. Novartis has recently zeroed in on high-growth areas in cardiovascular, immunology, neuroscience, solid tumors, and hematology markets, including gene and cell therapy, radioligand therapy, and “xRNA”.

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