Pfizer to sell Capsugel unit to KKR for $2.38 billion; FDA turns down tafamidis filing
In line with recent guidance that it is viewing the sale of some non-core businesses, global drugs behemoth Pfizer (NYSE: PFE) has entered into an agreement whereby an affiliate of private investment firm Kohlberg Kravis Roberts (KKR) will acquire Pfizer’s Capsugel business for $2.375 billion in cash (The Pharma Letter March 15).
Capsugel, the world leader in hard capsules and an innovator in drug-delivery systems, generated around $750 million in revenue and manufactured more than 180 billion hard capsules in 2010.
“The transaction is an endorsement of Capsugel’s consistent success to date and its potential for future growth with KKR, a firm with deep industry expertise and a long history of partnering with market-leading businesses to take them to the next level,” said Guido Driesen, president and general manager of Capsugel.
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