Corning to spin off clinical labs and pharmaceutical services divisions.
Executive Summary
CORNING TO DIVEST PHARMACEUTICAL SERVICES DIVISION BY YEAR END as an independent, publicly traded company, Corning said May 14. The company will also be spinning off its clinical labs business as a second new company. Corning Clinical Laboratories has revenues of $1.6 bil. and Corning Pharmaceutical Services generates revenues exceeding $400 mil.