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Bentley to spin off drug delivery unit
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Anyone want to buy a generics business? New Hampshire-based Bentley Pharmaceuticals says it will spin off its drug delivery unit into a separate company and explore "strategic alternatives" for its generics unit.
The drug delivery business--which is working on an intranasal form of insulin--brought in $8.4 million last year. After the spinoff, it will be a public company called CPEX Pharmaceuticals. The generics unit, on the other hand, posted $101.1 million in sales last year. Bentley's board hired Deutsche Bank to help handle the spinoff and strategic review.
- check out this release from Bentley
- read the story from Forbes
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