IFF's $2.85 Billion Sale of Pharma Solutions Business Gets EU Clearance

Dow Jones

Feb 18, 2025

By Mauro Orru

The European Union gave International Flavors & Fragrances the go-ahead to sell its pharma solutions business to French company Roquette for up to $2.85 billion, saying the deal wouldn't stifle competition in the bloc.

The European Commission, the EU's executive arm, said it cleared the deal because IFF and privately-owned Roquette aren't close competitors, adding that the French group would continue to compete with a sufficient number of rivals following the transaction.

New York-based IFF agreed last year to sell the unit to Roquette in a deal that would hand it 10 research-and-development and production sites and roughly 1,100 employees.

IFF's pharma solutions business develops pharmaceutical excipients, substances other than the active pharmaceutical ingredient present in a drug formulation. The unit made about $1 billion in revenue in 2023.

Write to Mauro Orru at mauro.orru@wsj.com

(END) Dow Jones Newswires

February 18, 2025 07:25 ET (12:25 GMT)

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