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Pfizer may sell drug-delivery unit

Pfizer has announced that it may divest its Capsugel business unit, one of the world's leading providers of hard capsules

Pfizer has announced that it may divest its Capsugel business unit, one of the world's leading providers of hard capsules.

Morgan Stanley has been retained to conduct a strategic review of options for the business unit, and Pfizer is aiming to make an announcement of the results by the first quarter of next calendar year.

"Among Pfizer's robust and broad portfolio, Capsugel now represents a unique business, which we believe has strong potential for growth outside of Pfizer,” Cavan Redmond, senior vice president and group president of Pfizer's Diversified Businesses, said in a statement. "This, combined with Capsugel's consistent performance as well as improved financial market conditions, make it a good time to undertake this review."

Capsugel clients include pharmaceutical, consumer healthcare and dietary supplement companies around the world. The business unit had revenues of $740m in 2009. 

Capsugel's products include hard gelatin, liquid-filled, and vegetarian capsules, as well as liquid formations made using its Licaps Drug Delivery System. The business also sells R&D equipment. Capsugel has manufacturing and business facilities around the world, including locations in the US, Europe, Japan and Australia.

6th October 2010

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