Gehe Continues Disposal Strategy

11 August 1997

German pharmaceutical group Gehe, which took over Lloyds Chemists inJanuary this year (Marketletters passim), has sold its drug manufacturing arm Macarthy to Cinven, the management buy-out specialists, for L55.5 million ($90.5 million). Gehe has also disposed of Lloyds' Holland & Barrett health food chain, which was bought by US vitamin manufacturer NBTY for L100 million cash.

Macarthy is the last of three operations sold by Gehe. Michael Ward, chief executive of AAH UK, which runs the German company's operations in Britain, told the Financial Times that the group was delivering the disposal strategy announced with the acquisition of Lloyds. .Macarthy, whose principal trading subsidiary is Martindale Pharmaceuticals, is a supplier of injectable ophthalmic and narcotic products.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight