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Looking for the Back Door

Apr 02, 2009

Chemical and pharmaceutical conglomerate Solvay is looking for a way out of the pharma business, reports the Wall Street Journal. The Belgian company said yesterday that it is looking into "various options for its pharmaceutical activities" including "discussions with third parties." The WSJ estimates that the pharmaceutical division could be worth $6.6 billion and says that potential buyers include Abbott Laboratories, AstraZeneca, Bayer, Merck KGaA of Germany, and Sanofi-Aventis.

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