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Business
FineTech changes hands again
February 6, 2006
| A version of this story appeared in
Volume 84, Issue 6
Par Pharmaceutical has sold its pharmaceutical fine chemicals business, FineTech Laboratories, to FineTech's CEO, Arie L. Gutman. Par says in a government filing that FineTech was not profitable and that the sale will save it $4 million a year. Par bought FineTech from International Specialty Products in 2002, less than a year after ISP acquired the Haifa, Israel-based operation. FineTech will continue to supply Par with certain active pharmaceutical ingredients.
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