TITLE

Cardinal Inks Deal to Sell Contract Manufacturing Unit

AUTHOR(S)
Bryner, Michelle
PUB. DATE
February 2007
SOURCE
Chemical Week;2/7/2007, Vol. 169 Issue 5, p31
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Cardinal Health has signed a definitive agreement to sell most of its pharmaceutical technologies and services (PTS) contract manufacturing business to private equity firm The Blackstone Group. The divestment is expected to generate $3.1 billion in after-tax proceeds. Cardinal Health says it will retain two of the PTS business segments that support the generic drugs market. PTS generates revenues of approximately $1.8 billion/year, and operates 30 facilities worldwide.
ACCESSION #
24106387

 

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