27 May 1999
AstraZeneca to drop agrochemicals

ASTRAZENECA is making plans to dispose of its £3 billion agrochemicals division after deciding the operation is not part of its core business.

The business is divided into herbicides, insecticides and fungicides and had sales of £1.7bn in 1998 – about 9% of the global market.

AstraZeneca is working with investment banks to advise on the disposal.

The agrochemicals arm could be sold as a single unit or in parts to one of several trade or financial bidders.

There is also the possibility of it being floated or folded into a joint venture.