Siemens Healthineers announced it acquired Advanced Accelerator Applications S.A. (AAA) for $223 million from Novartis AG.
AAA, a radiopharmaceutical company, develops, produces and commercializes molecular nuclear medicines including Lutathera® (177Lu-DOTATATE), a first-in-class RLT product for neuroendocrine tumors. Radiopharmaceuticals are unique medicinal formulations containing radioisotopes which are used clinically for both diagnosis and therapy. Novartis bought AAA in 2017 for $3.9 billion.
Siemens Healthineers manages a portfolio of products and services in areas of diagnostic and therapeutic imaging and in laboratory diagnostics and molecular medicine.
This acquisition is expected to strengthen Siemens Healthineers’ position in the medical imaging sector, particularly in the production of radioactive chemicals essential for PET scans used in cancer detection. Sources at the companies noted that the transaction is expected to close later in 2024.
According to data captured in the LevinPro HC database, this acquisition marks the 44th Pharmaceutical transaction of the year. Throughout all of 2023, there were 107 Pharmaceutical acquisitions reported.
