Astra Sells Dental Unit for $1.8 Billion

By Margot Patrick from the Wall Street Journal

LONDON–AstraZeneca PLC said Wednesday it has agreed to sell Astra Tech to Dentsply International Inc. for $1.8 billion,after a sale process that attracted strong interest from private-equity firms and strategic buyers looking to tap into growth in the dental-implants market.

The transaction, expected to close in the second half, will be recorded as a significant item not included in AstraZeneca’s core financial earnings so won’t affect the U.K.-based drug maker‘s existing earnings forecast.

Read more

Enhanced by Zemanta