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BioChem Pharma

This article was originally published in The Gray Sheet

Executive Summary

Divests its BioChem ImmunoSystems diagnostics division to a minority shareholder and a management group who together have agreed to contribute $5 mil. in new working capital. In exchange, BioChem Pharma receives a $54 mil. debenture to be paid out of future cash flows. The parent will now refocus on therapeutics and vaccines
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