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Business

Solutia divests consulting arm

September 5, 2005 | APPEARED IN VOLUME 83, ISSUE 36

Solutia has sold its pharmaceutical consulting business to the group's management, headed by Paul Woitach, for an undisclosed sum. Woitach relaunched the business last week as Pharmaceutical Advisors, based in Princeton, N.J. Last year, Solutia sold another consulting unit, the clinical trial management firm Axio Research, purchased in 2002, to a group that includes Axio's original management. Solutia says the two consulting businesses were "a small fraction" of its pharmaceutical group, which is composed of CarboGen Laboratories and Amcis. Earlier this year, Solutia decided to hold on to these businesses.

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