Market Overview

Varian Will Acquire Embolic Bead Asset From Boston Scientific

Share:

Varian Medical Systems (NYSE: VAR) will acquire Boston Scientific’s (NYSE: BSX) portfolio of drug-loadable microsphere and bland embolic bead products. Terms of the transaction were not disclosed.

Boston Scientific’s portfolio of products treat arteriovenous malformations, which is a tangle of abnormal and poorly formed blood vessels and hypervascular tumors. Varian will not acquire any of the Boston Scientific operations, but plans to manufacture and distribute the products.

"This acquisition from Boston Scientific will strengthen Varian's growing position in the high-value interventional oncology segment and is consistent with our long-term strategy to become a global leader in multidisciplinary, integrated cancer solutions," said Dow Wilson, CEO of Varian.

Varian shares were trading down 0.30% at $139.20 Tuesday afternoon.

Related Links:

Karuna Therapeutics Opens Above IPO Price

ImmunoGen To Focus Operations On Mivetuximab Soravtansine Development

Posted-In: News Asset Sales

 

Related Articles (BSX + VAR)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

The Next Wave Of Canadian Cannabis

Mid-Day Market Update: Crude Oil Down 3.5%; MDJM Shares Spike Higher