LOSSES PROMPT PROVALIS TO SELL PHARMACEUTICALS ARM

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DEESIDE based healthcare company Provalis is looking for a buyer for its pharmaceutical business after seeing group losses treble last year. The board says it has already had several indicative offers for the business which has a portfolio of products for the treatment of osteoporosis, muscular skeletal disorders and other ailments. Interim chief executive Peter Woodford said the move to examine the possibility of selling off the pharmaceutical business was part of a strategic review he initiated after his appointment in August. Banker Rothschild is assisting him with the review.

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