3M Completes Sale of Its Pharmaceuticals Business in the Americas
Posted on: Friday, 29 December 2006, 15:00 CST
3M (NYSE:MMM) announced today it has completed its transaction with Graceway Pharmaceuticals LLC for the sale of 3M's pharmaceuticals operations in the United States, Canada, and Latin America.
Under the agreement, Graceway Pharmaceuticals will acquire exclusive regional marketing and intellectual property rights for 3M's well-known branded pharmaceuticals, including Aldara, Tambocor, Maxair Autohaler, MetroGel-Vaginal and Minitran. Graceway Pharmaceuticals also will acquire the rights to certain immune response modifier molecules.
About Graceway Pharmaceuticals LLC
Graceway Pharmaceuticals LLC ("Graceway"), headquartered in Bristol, Tenn., is a pharmaceutical company focused on acquiring, in-licensing and developing branded prescription pharmaceutical products. Current prescription products marketed by Graceway include Atopiclair and Benziq. Effective with this closing, Graceway also will market Aldara, Maxair, MetroGel-Vaginal, Minitran and Tambocor products.
Aldara, Benziq, Maxair, Tambocor and Minitran are trademarks of Graceway in the Americas. MetroGel-Vaginal and Atopiclair are licensed trademarks.
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.
Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.
Source: Business Wire
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