Catalytica Inc. (Nasdaq: CTAL) of Mountain View, Calif., which maintains a manufacturing facility in Greenville, recently announced plans to restructure its Catalytica Pharmaceuticals business for increased efficiencies.
Catalytica Pharmaceuticals plans to close its Bay View chemical manufacturing operation in East Palo Alto, Calif., and transfer products currently manufactured there to its Greenville and South Haven, Michigan, facilities. Catalytica currently manufactures various Glaxo Wellcome products at the Greenville facility.
The restructuring news follows a recent announcement that DSM of the Netherlands will acquire Catalytica’s pharmaceutical business through the purchase of Catalytica Inc. for about $750 million plus the assumption of debt.
The transaction is structured as a merger of a wholly owned U.S. subsidiary of DSM with Catalytica and a spin-off of the Catalytica Combustion Systems and Catalytica Advanced Technologies businesses. The merger and spin-off was scheduled for completion in 2000.
COPYRIGHT 2000 North Carolina Biotechnology Center
COPYRIGHT 2004 Gale Group