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Alpharma (ALO) Divests Active Pharmaceutical Ingredients Business
Posted on 2008-06-13 07:53:00
Alpharma Inc. announced that the divestiture of its Active Pharmaceutical Ingredients ("API") business to 3i has been completed for a purchase price of $395 million and net after-tax proceeds of approximately $365 million.
The Company's API business develops, manufactures and markets a line of fermentation-based active pharmaceutical ingredients and one chemically-synthesized active pharmaceutical ingredient that are used, primarily by third parties, in the manufacture of finished dose pharmaceutical products. The business reported full year 2007 revenues of $187.6 million and operating income of $34.0 million.
The sale includes manufacturing facilities in Copenhagen, Denmark; Oslo, Norway; Budapest, Hungary; and Taizhou, China; and the business employs approximately 700 people.[SM]
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