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Suda Pharmaceuticals to divest medical supplies unit

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Suda Pharmaceuticals to divest medical supplies unit

Australia's Suda Pharmaceuticals Ltd. agreed to sell its medical supplies unit, Westcoast Surgical & Medical Supplies, to focus on its core activities and strengthen its cash position.

Under the deal, Medical Sales & Service Pty Ltd., a unit of Device Technologies Australia Pty Ltd., will acquire all shares of Westcoast.

Financial terms of the deal, which is expected to be settled in early March, were not disclosed.

Suda Pharmaceuticals, formerly Suda Ltd., has a core business of oro-mucosal drug delivery.