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Vaccines Chess Game Continues With Baxter Sale To Pfizer

Pfizer, which saw 13% growth in its global vaccines business during the second quarter, pays $635 million to buy a pair of vaccines from Baxter. The meningitis and encephalitis vaccines, sold mainly in Europe, are expected to generate combined sales of about $300 million this year.

One company’s growth-leader is another’s undesirable diversification – that’s the takeaway from the July 30 transaction in which Pfizer Inc. purchased Baxter International Inc.’s vaccines business for $635 million. Pfizer adds heft to a business unit that posted one of its strongest growth rates during the second quarter, while Baxter continues to focus more narrowly on a few therapeutic areas.

Baxter furthers its ambitions of paring down to solidify its core businesses. [See Deal] But for Pfizer, it...

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