Baxter to buy manufacturing plant from ML Laboratories

Published: 24-Mar-2003

US-based Baxter Healthcare Corporation has agreed to acquire ML Laboratories' icodextrin manufacturing facility in Liverpool, UK for approximately $10m (€9.4m).


US-based Baxter Healthcare Corporation has agreed to acquire ML Laboratories' icodextrin manufacturing facility in Liverpool, UK for approximately $10m (€9.4m).

Icodextrin is the raw material used to manufacture Baxter's Extraneal peritoneal dialysis solution.

Producing its own source of icodextrin will help Baxter ensure an adequate supply of Extraneal to meet market demand in the years ahead, according to Alan L. Heller, Baxter senior vice president and presi-dent of the company's renal business. The product was approved by the US FDA last December for sale in the US and is currently pending approval in Japan.

The transaction is expected to close in the first half of 2003, subject to approval of ML Laboratories shareholders.

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