Breaking News From Pharma & Bio Ingredients
Cardinal Health to Sell $1.8 Billion Unit
Posted on 2006-12-01 08:34:00
Cardinal Health will divest its pharmaceutical technologies and services segment (PTS), a business that manufactures or packages 100 billion doses of medication every year. The unit employs about 10,000 at more than 30 facilities around the world and generates sales of $1.8 billion.
The move is being made to focus Cardinal Health's capabilties and resources to better serve health care provider customers, such as hospitals and pharmacies.
"In the coming years, Cardinal Health will focus more on our products and services that help providers improve the safety and productivity of health care," said R. Kerry Clark, president and chief executive officer of Cardinal Health. "While synergies clearly exist between PTS and our other businesses, we believe there is greater customer and shareholder value in the expansion of our supply chain and medical and clinical products businesses domestically and internationally."
Subscribe via RSS
