Baxter buys long-idled facility in Brooklyn Park for $10M


It appears medical products giant Baxter International is planning a major expansion in Minnesota after acquiring Genmab's 215,000-square-foot plant in Brooklyn Park for $9.9 million, Finance & Commerce reports.

The Business Journal notes Genmab paid $240 million for the property in 2008. Less than two years later the firm closed the plant.

"We have delivered on our commitment to execute the sale of the antibody manufacturing facility in the first quarter of this year and are very pleased that Baxter acquired the facility, including the 23 employees who have maintained the facility to such a high standard," Jan van de Winkel, chief executive of Genmab, said in a news release.

Last year, Baxter bought also med-tech firm Synovis Life Technologies Inc. in St. Paul for $325 million.

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