Germany-based BASF, the world’s largest chemical maker, plans to sell $306 million worth of its pharmaceuticals business to to Swiss-based Siegfried Holding.
BASF intends to divest its custom synthesis business and parts of its current active pharmaceutical ingredients (APIs) business to Siegfried Holding. This includes APIs such as ephedrine, pseudoephedrine and caffeine. in-Pharma Technologist.com reports that approximately 100 APIs will be included in the sale.
BASF will retain its leading excipient portfolio and selected APIs, such as ibuprofen, omega-3 fatty acids and polyethylenglycol (PEG), where the company has a leading market position.
The transaction also includes the sale of BASF’s production sites in Minden, Germany; Evionnaz, Switzerland; and Saint-Vulbas, France.
Read the BASF company press release