DSM to create new pharma services firm with JLL - Reuters

Dutch food and chemicals group DSM is spinning off its pharmaceuticals division in a $2.6 billion deal with private equity firm JLL, pushing DSM's shares up more than 3 percent, writes Reuters. The new company will develop and manufacture drugs under contract for the pharmaceutical industry and is expected to have annual sales of about $2 billion, DSM and JLL said in a statement.

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