Wyeth has announced that a definitive agreement has been signed with an affiliate of PBM Products Inc. for the sale of its Georgia, Vermont infant nutrition manufacturing facility.
Under the terms of the purchase agreement, which is subject to customary conditions to closing, including certain regulatory approvals, Wyeth will receive an undisclosed amount in cash at closing in exchange for the manufacturing facility. The buyer is expected to retain employees currently working at the site, Wyeth said in a release.
Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.