3M to Divest Drug Delivery DivisionDecember 13, 2019
3M has agreed to sell the majority of its drug delivery business to Altaris Capital Partners LLC for US$650 million.
Per the terms of the sale, more than 900 employees of the division, which produces inhalers, micro-needles, and other technologies, will transfer to Altaris. The deal excludes the 3M’s transdermal drug delivery business, The Minneapolis Star Tribune reports.
With global sales of US$33 billion, 3M is a leading producer of thousands of products ranging from chemicals, filtration systems, and safety and protection equipment to office, graphics, and health care equipment. For more information, visit www.3m.com.