3M inks three-way, $2.1B deal for drug unit

The conglomerate 3M says it has inked a trio of deals to sell its global branded drugs division for a collective $2.1 billion. Graceway Pharmaceuticals is buying the U.S., Canada and Latin American operation for $875 million while Sweden's Meda gets Europe for $857 million and two Australian equity firms gain Asia-Pacific for $349 million.

- here's the AP report on the deal