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3M to Divest Drug Delivery Division

December 13, 2019 3M to Divest Drug Delivery Division

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.

About 3M
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.