Report: AstraZeneca Looking to Sell Astra Tech
BY LAUREN UZDIENSKI, NOVEMBER 16, 2010
Bloomberg, the Wall Street Journal and others are reporting this morning that AstraZeneca has hired JPMorgan Chase to help it sell Astra Tech, a medical device manufacturer based in Sweden. In addition to a urology portfolio, the company has a dental implant division.
Astra Tech's sales were $506 million in 2009, and AstraZeneca is reportedly hoping to sell the unit for around $2 billion, or just under four times trailing revenues.
