Alpharma Inc. has announced plans to sell its API business to 3i, a global private equity and venture capital company, for $395 million in cash. Alpharma’s API business develops, manufactures and markets a line of fermentation-based APIs and one chemically-synthesized API that are used, primarily by third parties, in the manufacture of finished dose pharmaceutical products. For the nine months ended September 30, 2007, the API unit, which employs 700 people, had net sales of $138.7 mill...