Novartis close on deal to sell contract patchmaker LTS Lohmann

In addition to all of the other deals that Novartis announced today, an agreement to sell deal contract manufacturer LTS Lohmann is reportedly close, with private equity firm Nordic Capital expected to get it for about $1.7 billion, Bloomberg reported. Novartis ($NVS) shares ownership of the patchmaker with German billionaire Dietmar Hopp. LTS makes nicotine patches and other transdermal drugs, including treatments for Parkinson's disease and restless legs syndrome. It also turns out film-based products. It has annual sales of about €286 million ($386.7 million). Report | Story