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Solutia to buy CarboGen Laboratories

US-based Solutia Inc. said it agreed to acquire CarboGen Laboratories, a pharmaceutical research and development company based in Aarau, Switzerland.
Terms were not disclosed. Solutia said it would f…

US-based Solutia Inc. said it agreed to acquire CarboGen Laboratories, a pharmaceutical research and development company based in Aarau, Switzerland. Terms were not disclosed. Solutia said it would fund the acquisition with short-term debt, and the deal would be “mildly dilutive” to Solutia“s earnings this year. Closing is expected shortly. Solutia said acquiring CarboGen, which had 1999 sales of more than US$ 20 million, will be the first step in opening a new line of business in pharmaceutical chemistry services for chemicals concern Solutia.

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