PRINT THIS PAGE European Triton and PPM to buy Pfizer diagnostics unit for $575m20/01/2004. Source: AltAssets. 
 European private equity firms Triton and PPM Ventures are to acquire Pfizer’s diagnostics unit for $575m. The move forms part of Pfizer’s strategy to prune businesses and operations received in its near $60bn purchase of US rival Pharmacia last year.
‘The diagnostic testing business is the recognised leader in in-vitro allergy testing,’ Hank McKinnell, chairman and chief executive of Pfizer fold the Financial Times. ‘We wish our diagnostics colleagues well as they set their course for future growth with Triton and PPM.’
Pfizer also intends to sell other small non-core brands to clean up its European consumer products, including Claire Fischer beauty products in Germany and its Restivoil brand in Italy.
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