STADA SELLS U.S. UNIT TO DAVA FOR $40M

Drugmaker Stada Arzneimittel AG said Thursday it struck a deal to sell its stake in an American subsidiary for $40 million and plans to exit the U.S. market completely. The Bad Vilbel-based company said it would sell its stake in the Cranbury, New Jersey-based Stada Inc. to Dava Pharmaceuticals Inc.
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