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Alpharma sells generic drug biz for $810M
Looking to streamline its operations and concentrate on developing its specialty pharmaceuticals business, Alpharma has sold its generic drug business to the Actavis Group for $810 million in cash. The sale will allow the company to pay off its debt by mid-2006.
"Alpharma's new, leaner operating profile and improved focus on specialty pharmaceuticals for both human and animal use will better position the company to improve growth and maximize shareholder value," said Alpharma CEO …
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