Covidien (Dublin, Ireland), a provider of healthcare products, will sell its Specialty Chemicals business, known in the industry as two brand names, J.T.Baker and Mallinckrodt Laboratory Chemicals to an affiliate of New Mountain Capital, L.L.C. for $280 million.
Covidien (Dublin, Ireland), a provider of healthcare products, will sell its Specialty Chemicals business, known in the industry as two brand names, J.T.Baker and Mallinckrodt Laboratory Chemicals to an affiliate of New Mountain Capital, L.L.C. for $280 million.
New Jersey-based Specialty Chemicals business manufactures and markets high-purity chemicals and related products and services. These products are used in research and quality control laboratories, microelectronics, environmental testing laboratories, and universities, and for manufacturing in the pharmaceutical, biotechnology, and other industrial markets.
Fiscal 2009 sales of the Specialty Chemicals product line were $414 million. For the first six months of fiscal 2010, sales of this product line were $216 million. Covidien will now report the Specialty Chemicals product line as a discontinued operation. The reclassification to discontinued operations will reduce the company's previously reported fiscal 2009 diluted earnings per share from continuing operations by approximately 7 to 8 cents.
Completion of the transaction is subject to customary closing conditions, with closing expected by the end of fiscal 2010. The transaction is expected to dilute reported earnings per share by approximately 9 to 11 cents in each of fiscal 2010 and fiscal 2011.
The Future of Cleanroom Construction: How Hybrid Solutions are Changing the Game
May 14th 2025Imagine a world where cleanroom facilities—essential for pharmaceutical manufacturing, biotechnology, and high-tech industries—are built with unparalleled speed, precision, and efficiency. That world is here, thanks to the hybrid construction approach. By blending traditional stick-built methods with modular and prefabricated solutions, companies are overcoming the limitations of conventional construction while ensuring compliance with stringent industry regulations. In this interview, we explore how hybrid cleanroom construction is transforming the industry, offering faster project timelines, improved quality control, and significant cost advantages. Join us as we delve into this game-changing approach with industry experts who are leading the charge in revolutionizing cleanroom infrastructure.
Mastering Antibody-Drug Conjugates
December 19th 2024In this episode, we explore BIOVECTRA’s capabilities in antibody-drug conjugate (ADC) manufacturing, from complex conjugation chemistry to synthesis of highly potent payloads. We’ll also showcase how BIOVECTRA’s extensive experience in complex chemistries and specialized small molecule manufacturing gives them a unique perspective, strengthening their approach to ADC production and ensuring clients receive custom solutions across all project stages.