Pfizer, Kohlberg Kravis Roberts deal

Pfizer will sell its Capsugel business to investment firm Kohlberg Kravis Roberts for about $2.4 billion in cash. Capsugel, which provides capsule products, equipment and services, had about $750 million in revenue last year. The deal is expected to close next quarter. Morgan Stanley and Guggenheim Securities advised Pfizer. In October, the pharma said it would seek strategic alternatives for the division, including a sale (see BioCentury, Oct. 18, 2010). ...