Roche to Sell Off Vitamin Division
Roche Holding Chief Financial Officer Erich Hunziker said the Swiss drug maker plans to divest its vitamin unit, the world’s largest, by the end of 2002.
“We will announce a solution this year definitely,†Hunziker said.
Selling the vitamin business would help Roche focus on making medicines, a business whose sales growth has lagged behind that of rivals. In the first quarter, drug revenue rose 5%, below the industry average of about 9%.
Hunziker declined to say whether Roche will divest the unit through an initial public offering or through a sale. “We have all options open at the moment,†he said.
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