Blackstone To Buy Cardinal Unit for $3.3 Billion

Cardinal Health (NYSE: CAH) has agreed to sell its pharmaceutical technologies and services (PTS) business to The Blackstone Group for approximately $3.3 billion. PTS develops, manufactures and packages medication and other products for pharma and biotech firms, and employs approximately 10,000 people at more than 30 global facilities. It generates approximately $1.8 billion in annual revenue.