Akzo Nobel says no to drugs
20 Sep 2002
Akzo Nobel has sold Leeds, UK-based Rosemont Pharmaceuticals, its liquid pharmaceuticals manufacturing business, to US-based Bio-Technology General of Iselin, NJ for £64 million.
'Although a profitable niche activity, the oral liquid pharmaceuticals business is non-core for us,' said Toon Wilderbeek, Member of Akzo Nobel's Board of Management responsible for Pharma.
Rosemont, which employs approximately 120 people, specialises in the development and production of oral liquid formulations of medicines for patients who have difficulty in swallowing tablets.
It currently supplies 80 products including antidepressants, diuretics and drugs to treat Parkinson's disease and breast cancer - all predominantly for the UK market.
