03 March 1999
Zeneca denies plans to sell off agrochem

ZENECA, the pharmaceuticals group that plans to merge with Astra of Sweden, has ruled out the sale of its agrochemicals business.

Michael Pragnell, chief executive of the division, said there was “no intention” of selling the business.

Agrochemicals made Zeneca profits of £216 million last year, from sales of £1.7bn.

But analysts have suggested that AstraZeneca might sell the business to focus on the more profitable drugs operation.