04 August 1999
AstraZeneca to sell off ag-chems?

ASTRAZENECA is considering the sale of its agrochemicals arm as part of a restructuring which will see it focusing exclusively on pure pharmaceuticals.

Lehman Brothers valued the agrochemicals business at $6.3 billion (£3.88bn) earlier this year.

Underlying profits at the division fell 19% to $283m in the first half, as American farmers cut purchases of herbicides and insecticides in response to falling crop prices.

News of the possible restructuring came as the group reported an operating profit of $2.09bn on continuing businesses, 8% higher than last time. Sales rose 12% to $9.04bn.

  • Zeneca denies plan to sell off agrochem, FWi, 03 March, 1999
  • The Times 04/08/99 page 27, page 29, page 30 (Tempus)
  • The Independent 04/08/99 page 13, page 15 (Outlook)
  • Financial Times 04/08/99 page 13, page 14 (Lex), page 15
  • The Guardian 04/08/99 page 21, page 21 (Finance)
  • The Daily Telegraph 04/08/99 page 27, page 29 (Questor), page 30 (City Diary)
  • The Herald 04/08/99 page 17, page 19 (Comment)