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AstraZeneca sells dental business

The sale of pharmaceutical firm AstraZeneca's dental business, Astra Tech, to Dentsply for $1.8bn has been completed

The sale of pharmaceutical firm AstraZeneca's (AZ) dental business, Astra Tech, to Dentsply for $1.8bn has been completed.

Dentsply, a US-based dental equipment maker, will take full control of the subsidiary, which focuses on the research, development, manufacturing and marketing of dental implants and medical devices for use primarily in urology and surgery.

AZ will record the deal as 'other operating income' in its third quarter financial results. It will also be reported as a 'significant item' so will not affect the company's financial guidance for 2011.

The finance raised from the sale of Astra Tech will be used to increase the company's share repurchase programme to levels above the current $4bn target.

1st September 2011

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