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Cardinal To Sell PTS Segment for $3.3 Billion

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Cardinal Health has reached an agreement to sell its Pharmaceutical Technologies and Services (PTS) segment to The Blackstone Group for approximately $3.3 billion in cash. Under the agreement, Blackstone will acquire the PTS businesses that develop, manufacture and package medication and other products for pharmaceutical and biotech firms. The business employs approximately 10,000 at more than 30 facilities worldwide and generates approximately $1.8 billion in annual revenue. Cardinal Health pre...

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