3M Reaches Agreements to Sell its Pharmaceuticals Business
3M announced today that
it has entered into agreements to sell its global branded
pharmaceuticals business for approximately $2.1 billion in the
following regions:
Graceway
Pharmaceuticals Inc.
has agreed to acquire 3M’s pharmaceutical operations in the
United States, Canada, and Latin America region for $875 million.
Meda
AB has
agreed to acquire 3M’s pharmaceutical business in
Europe for $857 million. The agreement will be implemented by
each 3M subsidiary subject to compliance with third party notice
and approval requirements.
Ironbridge
Capital and Archer Capital have agreed to acquire 3M’s pharmaceutical operations in the
Asia Pacific region, including Australia and South Africa for
$349 million.
The agreements are the result of a review of strategic options
for the branded pharmaceuticals business and its immune
response modifier (IRM) platform that 3M announced in
April. Under the agreements, the purchasers will acquire regional
marketing and intellectual property rights for 3M’s well-known branded
pharmaceuticals, including Aldara, Difflam, Duromine, Tambocor,
Maxair, Metrogel-Vaginal and Minitran. 3M’s Drug Delivery Systems Division
will be a source of supply to the acquiring companies for the
products. As part of the transaction, Graceway Pharmaceuticals
also will acquire the rights to certain IRM molecules.
“These
are great brands and products, and we believe they will thrive in
today’s very competitive pharmaceutical
marketplace under the direction of their new owners,”
said Brad Sauer,
executive vice president, 3M Health Care. “I want to thank our employees for
their outstanding contributions to our business and for
delivering excellent service and quality to our valued customers.”
There are
approximately 1,050 employees in 3M’s Pharmaceuticals Division
worldwide. It is estimated that approximately 70 percent of those
employees will receive employment opportunities with the
acquiring companies.
3M Health Care, one of 3M’s six major business segments,
provides world-class innovative products and services to help
health-care professionals improve the practice and delivery of
patient care. 3M will continue to grow its vibrant Health Care
businesses globally serving multiple market segments.
The transactions are scheduled to close in the fourth quarter,
subject to customary closing conditions, including regulatory
approvals, and in the case of Graceway Pharmaceuticals, and
Ironbridge Capital and Archer Capital, the receipt of financing.
3M will record a gain related to the transactions, and in
addition, will incur various restructuring charges as it
continues to align to drive growth and improve productivity.
3M’s financial advisor for the
transactions was Goldman, Sachs & Co.
About Graceway Pharmaceuticals Inc.
Graceway Pharmaceuticals, Inc. (“Graceway”), headquartered in Bristol,
Tennessee, is a pharmaceutical company focused on acquiring,
in-licensing, and developing branded prescription pharmaceutical
products. Chester Valley Pharmaceuticals, Inc. (“CVP”), based in Malvern, Pennsylvania,
is a specialty pharmaceutical company focused on the dermatology
therapeutic niche. Current prescription products marketed by CVP
include Atopiclair Nonsteroidal Cream for atopic dermatitis and
the Benziq family of products for acne.
About Meda AB
MEDA AB (publ) is a leading European specialty pharma company
that concentrates on marketing and market-adapted product
development. Acquisitions and long-term partnerships are
fundamental factors that drive the company’s strategy. Meda is represented in
more than 24 countries and has about 900 employees within
marketing and sales. The Meda share is quoted on the OMX Nordic
Stock Exchange.
About Ironbridge Capital
Ironbridge Capital is a leading provider of private equity for
growth businesses in the Australasian marketplace. Ironbridge is
focused on investments in medium- to large-sized management
buyout and expansion capital transactions headquartered in
Australia and New Zealand. This will be the first investment in
Ironbridge’s recently raised A$1.05bn Fund
II.
About Archer Capital
Archer Capital is a leading Australian private equity manager
specializing in management buyouts. The depth of its operational
and general management experience is unique in the Australian
private equity industry. A hands-on, operational focus
characterizes its approach from assessing, actively managing and
eventual realizing an investment opportunity.
About 3M - A Global, Diversified Technology Company
Every day, 3M people find new ways to make amazing things happen.
Wherever they are, whatever they do, the company's customers know
they can rely on 3M to help make their lives better. 3M's brands
include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite,
Filtrete, Command and Vikuiti. Serving customers in more than 200
countries around the world, the people of 3M use their expertise,
technologies and global strength to lead in major markets
including consumer and office; display and graphics; electronics
and telecommunications; safety, security and protection services;
health care; industrial and transportation.
Aldara, Difflam, Duromine, Tambocor, Maxair, Metrogel-Vaginal,
Minitran, Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite,
Filtrete, Command and Vikuiti are trademarks of 3M.
Atopiclair and Benziq are trademarks of Graceway Pharmaceuticals.
3M
Businesses
3M serves customers through six business segments, which increase
speed and efficiency by sharing technological, manufacturing,
marketing and other resources.
These six businesses are:
Consumer and Office Business
With powerful brands, innovative products and a global presence,
we make life easier and more productive for consumers and office
workers around the world.
Display and Graphics
Business
Drawing on 3M's technology platforms, we provide products -
display enhancement films, reflective materials, eye-catching
graphics and more - that people around the world rely on every
day.
Electro and
Communications Business
We turn 3M technology into solutions for customers in electrical,
electronics and communications markets around the world. We
contribute to reliable sources of electrical power,
high-performance electronic devices, and speedy and dependable
telecommunications networks globally.
Health Care Business
Every day, we help improve the quality of care provided by health
care professionals throughout the world. Our innovative products
and services also make the delivery of patient care more
affordable.
Industrial and
Transportation Business
We're a global leader in tapes, abrasives, adhesives, specialty
chemicals, filtration systems, and software for supply chain
management. We also serve the transportation market with products
for the manufacture, repair and maintenance of autos, aircraft,
boats and other vehicles.
Safety, Security and
Protection Services Business
Our products increase the safety, security and productivity of
people, facilities and systems around the world. We’re also a leading supplier of
roofing granules for asphalt shingles.
Immune Response Modifier (IRM)
3M Pharmaceuticals has a
rich product development pipeline based on the Immune Response
Modifier (IRM) technology platform. The IRMs are a class of
unique, proprietary synthetic molecules developed by 3M
Pharmaceuticals that have a broad range of potential therapeutic
applications, including promising treatments for a variety of
viruses and tumors.
Mechanism of Action
The IRMs are a new class of drug. They act by stimulating the
body to produce cytokines, naturally occurring proteins used by
cells of the immune system to communicate with each other. The
cytokines induced by IRMs enhance cell-mediated immunity, a
natural process by which the body controls or eliminates virus
infected cells and tumor cells. Because the IRMs assist the
immune system - rather than target specific viruses or tumors -
they have potential uses in a wide variety of diseases. The IRMs
can be formulated into many dose forms, each appropriate for a
specific disease.
2007/5/7 日本経済新聞夕刊
車用素材 米3M、日本に拠点 来年にも トヨタなどと開発
世界化学大手の米スリーエム(3M)は２００８年にも、自動車用の開発拠点を日本に開設する。トヨタ自動車などと断熱材や塗料代替材を共同開発する。日本の自動車メーカーが世界で販売を伸ばす中、日本車が強みを持つ安全・環境性能で化学素材の役割が高まっている。米ゼネラル・エレクトリック(GE)やダウ・ケミカルも国内に拠点を設置済みで、日本を舞台に化学大手の開発競争が激化してきた。
海外事業を統括するインゲ・チューリン業務執行副社長がこのほど日本経済新聞記者に明らかにした。3Mは自動車用の開発拠点を米デトロイトに持つが、海外に設けるのは初めて。
新拠点「オートモーティブセンター(仮称)」の場所は東京都内が有力。窓枠用などに塗料代替となる樹脂製の粘着テープや、エンジン回りに使う吸音・断熱材の開発を担う。顧客との試作や製品展示のスペースを設ける見通し。
3Mは粘着製品に強く、２００６年１２月期の連結売上高は約２兆８千億円。うち自動車分野は約８千億円で、大半が米国メーカー向け。「自動車産業の重心が米国から日本に移っている」（チューリン副社長)ため、日本メーカーと密接な関係を築く必要があると判断。各社の開発方針や素材のニーズをいち早く取り込み、日本車向けの事業を本格化するほか、世界市場で投入する先端素材の開発体制を整える。
3Mは日本に住友電気工業との合弁会社、住友スリーエム（3Mの出資比率は75%)を持つ。住友スリーエムも自動車用素材を手掛けるため、新拠点の運営や製品開発で連携を検討する。
日米化学大手の自動車素材の強化策
▽ダウ・ケミカル
近く川崎市に開発拠点。自動車素材部門トップが08年から東京に常駐へ
▽GE
栃木県に06年11月に研究所
▽デュポン
名古屋市に05年、樹脂などのマーケティング拠点
▽三菱化学
三重県に3月、自動車メーカーと樹脂の共同開発拠点
▽三井化学
4月、顧客別組織へ改正。自動車・産業材事業部を設置