Roche says it will not split vitamins and fine chemicals
28 February 2002 18:15 [Source: ICIS news]
LONDON (CNI)--Swiss pharmaceuticals giant Roche will not split its fine chemicals and vitamins businesses but is considering spinning them off as a stand alone company, selling them, or forming a joint venture with another business, a spokeswoman said today (Thursday).
"We will not consider splitting it up because it works well as one unit," she said.
Roche said on Wednesday in announcing its 2001 financial results that it was "reviewing strategic options outside the group" for the future of its vitamins and fine chemicals division.
The spokeswoman explained today that the fine chemicals and vitamins division did not sit well with the rest of the company: "Fine chemicals and vitamins are bulk commodity type businesses and we want to focus on our key areas of pharma and diagnostics."
The divestment may have been hastened by the company's Euro525m ($460m) fine last year for its part in a vitamins price-fixing cartel.
By: Will Beacham
+44 208 652 3214
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