Solvay completes sale of pharmaceutical business to Abbot

02/17/2010 | (U.K.)

Belgian chemical firm Solvay has concluded the sale of its pharmaceutical unit to Abbot for about $7.1 billion. The company plans to use the proceeds to focus its operations on "high-value-added activities and strategic projects in chemicals and plastics." The company also said it will continue to expand to high-growth regions and develop low-energy products.

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