Pharma BD Deal Intelligence
Baxter bought Wyeth's ESI Lederle generic-injectables unit for ~$305-316M in 2002, then unloaded the same core business (Cherry Hill plant plus product line) to Hikma for just $112M in 2011 — a nominal loss of roughly two-thirds of the purchase price over eight years, with no evidence of blockbuster pipeline payoff in between.
Full analysis, sources & comparables →Baxter agreed to purchase substantially all of Wyeth's injectable pharmaceutical assets for $305M cash plus $11M assumed liabilities, gaining a Cherry Hill NJ…
FTC required Baxter to divest propofol assets, end iron replacement co-marketing, and terminate rights in certain neuromuscular blocking agents to preserve…
Baxter divested its U.S. generics injectables unit — substantially the same business acquired from Wyeth — to Hikma for $112M, signaling a strategic retreat…
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Announced June 8, 2002. $305-316M cash and assumed liabilities. FTC cleared with divestitures of propofol, neuromuscular blockers. Acquired Cherry Hill NJ facility + 1000 employees. Tier 2 (FTC) verified.
Baxter bought Wyeth's ESI Lederle generic-injectables unit for ~$305-316M in 2002, then unloaded the same core business (Cherry Hill plant plus product line) to Hikma for just $112M in 2011 — a nominal loss of roughly two-thirds of the purchase price over eight years, with no evidence of blockbuster pipeline payoff in between.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Baxter International Inc. / ESI Lederle (Wyeth generic injectable business) (this deal) | 2002 | $316M | 33 |
| Baxter International Inc. / Hillrom Holdings Inc. | 2021 | $12.4B | 48 |
| Roche Holding AG / Chugai Pharmaceutical Co. Ltd. | 2002 | $1.4B | 100 |
| Gilead Sciences Inc. / Triangle Pharmaceuticals Inc. | 2002 | $464M | 96 |
| Amgen Inc. / Immunex Corporation | 2002 | $16.0B | 92 |
| Novartis AG / Lek Pharmaceuticals d.d. | 2002 | $876M | 88 |
| Bayer AG / BlueRock Therapeutics | 2002 | $600M | 79 |
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