AstraZeneca sells off dental business for $1.8bn
pharmafile | June 23, 2011 | News story | Sales and Marketing | AstraZeneca, strategy
AstraZeneca is to sell its dental products firm Astra Tech to DENTSPLY for $1.8 billion.
Astra Tech comprises two business divisions, healthcare and dental, and its 2010 revenue reached $535 million.
DENTSPLY designs, develops and manufactures dental products, and will increase its market share with the acquisition.
For AstraZeneca, the move is part of an effort to re-focus on its core pharma R&D business, and bolster its overall profitability.
David Brennan, chief executive of AstraZeneca, said: “Following a comprehensive strategic review, we believe this transaction represents an excellent outcome for AstraZeneca shareholders.”
Astra Tech headquarters are located in Mölndal, Sweden, with production facilities in Sweden and North America. The company has marketing subsidiaries in 21 countries and selected local distribution partners. Astra Tech has 2,200 employees worldwide.
Brett Wells
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