Chemicals and Drugs Split Plan at Altana

April 7, 2005

European pharmaceuticals giant Altana looks set to split its drugs and chemicals businesses, following in the footsteps of peers such as the UK's ICI. Altana, which is headquartered in Germany and last month signed a cell research agreement with Dundee-based biotech firm Cyclacel, is believed to be planning to separate its chemicals and drugs unit after a large acquisition. By splitting the two branches, Altana would follow in the footsteps of several European rivals such as Teesside-based ICI, which hived off its drugs business into Zeneca in 1993, which then merged in 1999 with Sweden's Astra to create AstraZeneca.

Scotsman (http://business.scotsman.com/index.cfm?id=363332005)