Monday, April 04, 2011

Pfizer To Sell Capsugel Business To KKR For $2.38 Bln In Cash - Update

(RTTNews) - Pharmaceutical giant Pfizer inc. (PFE: News ) Monday said it has entered into an agreement with private-equity firm Kohlberg Kravis Roberts & Co L.P. (KKR: News ) for an affiliate of KKR to acquire Pfizer's Capsugel business for $2.38 billion in cash. Considering the loss of revenue from the business, the drugmaker lowered its reported revenue forecasts for 2011 and 2012.

Capsugel, a maker of hard capsules and drug-delivery systems, manufactured more than 180 billion hard capsules in 2010. It generated about $750 million in revenue.

Posted via email from Jack's posterous

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