06:19 AM EDT, 08/26/2024 (MT Newswires) -- Novartis ( NVS ) said it has received a binding offer from Siemens Healthineers to acquire the former's molecular imaging business, which specializes in Fluorine-18 Positron Emission Topography imaging.

"This would allow Novartis ( NVS ) to continue focusing its own efforts and capabilities as a pure-play innovative medicines company," a Novartis ( NVS ) spokesperson said in an emailed statement to MT Newswires on Monday.

The deal is expected to close in Q4, subject to regulatory approval and completion of works council consultation processes.

The company did not disclose the financial terms of the agreement.

However, the Financial Times reported that the German group will pay more than 200 million euros ($223.6 million) for the business, citing two unnamed people briefed on the deal.

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