6:35 PM
 | 
Dec 15, 2011
 |  BC Extra  |  Company News

Covidien planning pharma spin-off

Covidien plc (NYSE:COV) plans to spin off its pharmaceuticals business into a separate public company that Covidien says will compete more effectively in the pain management area. The business accounted for $2 billion, or 17%, of Covidien's $11.6 billion net sales in FY11, with 66% of pharma sales coming...

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