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Cardinal Inks Deal to Sell Contract Manufacturing Unit

1:40 PM MDT | February 7, 2007 | Michelle Bryner

Cardinal Health (Dublin, OH) says it has signed a definitive agreement to sell most of its pharma technologies and services (PTS) contract manufacturing business to private equity firm The Blackstone Group (New York) for approximately $3.3 billion. The deal is expected to close early in the fiscal fourth quarter, ending June 30, and is subject to customary closing conditions, including regulatory approval. Cardinal Health announced plans to sell its PTS business late last year to focus resources on the company’s four other segments, which offer services to...

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