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Forbes Medi-Tech sells pharma assets

This article was originally published in The Tan Sheet

Executive Summary

Forbes Medi-Tech will sell its pharmaceutical assets and business unit in San Diego to Transition Therapeutics for $1 million in cash upfront. Transition could pay as much as $6 million more based on predetermined milestones. The sale will allow Forbes to focus on its nutraceutical business, Forbes President and CEO Charles Butt says in an Aug. 18 release

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