Catalytica Restructures

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

You May Also Like

TransTech closes on $34.5m

TransTech closes on $34.5m TransTech Pharma Inc. of High Point recently closed on two rounds of preferred stock agreements totaling $24.5…

Pilot Therapeutics Holdings Inc

Pilot Therapeutics Holdings Inc – News Briefs * Pilot Therapeutics Holdings Inc. (OTC Bulletin Board: PLTT.OB) of Winston-Salem has compl…

$42m slated for biomanufacturing

$42m slated for biomanufacturing North Carolina’s biomanufacturing industry will get a $42 million boost this year, and possibly another …

Paradigm Genetics Inc

Paradigm Genetics Inc Michael Liebman, Ph.D., has been appointed to the scientific advisory board of Paradigm Genetics Inc. (Nasdaq: PDGM…