Wednesday, 31 August 2011
AstraZeneca today announced that the sale of its Astra Tech business to DENTSPLY International Inc. for approximately $1.8 billion in cash has completed. The transaction closed on 31 August 2011.
The gain will be recorded as ‘other operating income’ in AstraZeneca’s third quarter profit and loss account and will be considered a ‘significant item’ to be excluded from Core financial measures. As a result, there will be no impact on the Company’s full year 2011 guidance for Core earnings per share.
As announced at AstraZeneca’s second quarter and half year results, net proceeds from the disposal of Astra Tech, will be used to augment the share repurchase programme to levels above the current $4 billion target. Now that the transaction is complete, the Company estimates that net share repurchases could increase to $5 billion in 2011; with repurchases from any remaining balance of the Astra Tech proceeds to be completed in 2012.
NOTES TO EDITORS
About Astra Tech
Astra Tech AB is a global leader in dental and healthcare (urological and surgical) products, services and support. An innovation-driven company since its foundation in 1948, Astra Tech has continually developed market-leading solutions to meet healthcare needs based on user and medical community input. Ongoing research and development is aimed at finding new ways to support caregivers and improve quality of life for patients worldwide.
Astra Tech headquarters are located in Mölndal, Sweden, with production facilities in Sweden and North America. The company is represented globally with marketing subsidiary presence in 21 countries and selected local distribution partners. Astra Tech has 2,200 employees worldwide.
DENTSPLY designs, develops, manufactures and markets a broad range of professional dental products including dental implants, endodontic instruments and materials, orthodontic appliances, restorative materials, preventive materials and devices, and prosthetic materials and devices. The Company distributes its professional dental products in over 120 countries under some of the most well-established brand names in the industry. DENTSPLY is committed to the development of innovative, high quality, cost-effective new products for the professional dental market.
AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com
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