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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Pharma/fine chemicals roundup—2 April
8:16 AM MDT | April 2, 2013 | Deepti Ramesh
Ferro sells pharma business Ferro has completed the sale of its pharmaceuticals business, Pfanstiehl Laboratories, to private equity firm Med Opportunity Partners (Greenwich, CT). Ferro will receive $16.9 million cash and an incentive payment of up to $8 million, payable over 2 years based on the unit's earnings performance. Ferro says it has also retained certain tax benefits with an estimated value of approximately $5 million. Ferro’s pharmaceuticals business posted sales of $24 million and generated a segment income of $2.4 million in 2012. Daiichi...
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