India's Dishman Pharmaceuticals & Chemicals has snapped up the
Swiss-based pharmaceutical services business, Carbogen and Amcis,
of financially-troubled US chemical firm Solutia for the sum of
$74.5m (€58m).
Solutia has drawn up an agreement with former parent Monsanto that
could finally bring it out of the state of bankruptcy
reorganisation it has resided in since the end of 2003, reports
Phil Taylor.
Solutia has elected to retain its Pharmaceutical Services Division
(PSD) despite suggestions that a spin out or sale of the business
were being considered, reports Phil Taylor.
The Pharmaceutical Services Division (PSD) of US chemicals firm
Solutia is planning a charge into the market for supplying drug
conjugates, which are becoming more and more common in the
treatment of diseases such as cancer.
Monsanto and Pfizer's Pharmacia subsidiary have asked a federal
judge to either deny or postpone a request by Solutia to eliminate
liabilities to its former parent Monsanto.