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3M exits pharma

Executive Summary

The diversified industrial firm divests its pharmaceutical business in a three-way deal for approximately $2.1 bil. Under the deal, announced Nov. 9, Graceway acquires 3M's North and South American operations for $875 mil., Meda AB acquires the European business for $857 mil., and Ironbridge Capital and Archer Capital net the Asia Pacific region for $349 mil. 3M's pharma portfolio includes Aldara, Tambocor, Minitran and Maxair Autohaler...
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