From Investing.com:

International Flavors & Fragrances plans to sell its pharma solutions business to Roquette for $2.85 billion to focus on higher-margin ventures amid slow demand for food ingredients. IFF aims to reduce debt by divesting non-core units, with shares up 1% in premarket trading. Roquette eyes global pharmaceutical expansion with the deal, expected to close in 2025.

In 2022, IFF sold its savoury solutions business to PAI Partners for $900 million and its microbial control unit to LANXESS for $1.3 billion in 2021. The pharma unit accounted for 8% of IFF’s total sales in 2022, with remaining segments in food & beverage, health & biosciences, and scent categories. Deal expected to be finalized in the first half of 2025.



Read more at Investing.com: IFF to sell pharma unit to France’s Roquette in $2.85 billion deal By Reuters