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Home Industry News Pfizer agrees sale of Capsugel business unit

Pfizer agrees sale of Capsugel business unit

5th April 2011

Pfizer has agreed a deal to sell off its Capsugel drug delivery business unit to the global investment firm Kohlberg Kravis Roberts (KKR).

The $2.4 billion (1.48 billion pounds) transaction is expected to close during the third quarter of 2011 and marks the completion of Pfizer's previously announced plan to review its strategic options relating to the unit.

Capsugel is recognised as a global leader in the field of hard capsule production, with more than 180 billion of the drug delivery units being manufactured by the firm during 2010.

Confidence was expressed that its takeover by KKR will allow the transferred business unit to build on the success it has enjoyed in recent years.

Guido Driesen, Capsugel's president and general manager, said: "Capsugel's employees and I are excited to work with KKR and eager to enhance the value of our business in partnership with our customers."

This comes after Pfizer completed its $3.6 billion takeover of King Pharmaceuticals at the beginning of last month.ADNFCR-8000103-ID-800487367-ADNFCR

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