Northern Ireland-based pharmaceutical company Galen is to sell its Chemical Synthesis Services (CSS) business to its founder.
The business will be sold to a management team led by Dr Allen McClay, founder and former president of Galen, for £25 million sterling.
CSS provides an integrated service from basic R&D and small-scale chemical synthesis to kilogramme-scale chemical synthesis operating to industry standard Good Manufacturing Practices.
CSS employs 110 staff based at two sites in Northern Ireland and had sales of £5.2 million in the year ended 30th September, 2001.
