Financial Times FT.com

Solvay rides high on drugs auction news

By Miles Johnson

Published: July 15 2009 09:23 | Last updated: July 15 2009 18:59

Shares in Belgium’s Solvay hit a five-week high on Wednesday after it emerged that the pharmaceuticals and chemicals conglomerate had moved a step closer to offloading its drugs unit.

Nycomed, the privately owned Swiss company, is in the second round of the auction process, while US drug company Abbott Laboratories was said to be mulling an offer for Sol­vay’s TriCor cholesterol treatment, distributed in the US.

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