Law firms advise on billion-dollar Novartis deal

According to The Lawyer, Allen & Overy (A&O), Osborne Clarke (OC) and Proskauer Rose have taken mandates advising on the USD1.7bn sale of Swiss pharmaceutical giant Novartis’ transfusion diagnostics unit to Spanish plasma therapies company Grifols. 

Barcelona-headquartered Grifols will acquire the transfusion diagnostics unit of Novartis for USD1,675bn. The assets include medical products and technology, as well as a manufacturing plant and commercial offices in US, and offices in Switzerland and Hong Kong. 

A&O acted for Novartis alongside the company’s in-house team led by general counsel Felix Ehart, with support from in-house lawyers Jonathan Emery and Nicola Smith. 

The New York-based A&O team was led by Eric Shube, with anti-trust partner Elaine Johnston, intellectual property partner Paul Keller, environmental law partner Kenneth Rivlin, employment senior counsel Brian Jebb and associates Michael Maier and Danielle Brody in New York and Peter Banks in London. 

Osborne Clarke advised Grifols led by transaction partners Tomás Dagá and Raimon Grifols, supported by financing partner David Miranda, anti-trust partner Silvia Steiner and capital markets partner Nuria Martin. They were assisted on the due diligence side of the transaction by associates Oscar Calsamiglia ,Yana Sarkisova and Laura de la Cruz. 

Proskauer Rose worked closely with OC on the US side of the transaction for Grifols, led by corporate partners Peter Samuels, M&A partner Daniel Gatinsky and IP partner Daryn Grossman supported by mergers and acquisitions associates Mina Farbood and Yoon Suk Choo and life sciences associate Jessica Weitzman. 

The deal is still subject to regulatory approval but is expected to complete during the first half of 2014.