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Suda completes sale of medical supplies unit to focus on pharma business

Suda Pharmaceuticals Ltd. completed the sale of Westcoast Surgical & Medical Supplies to a unit of Device Technologies Australia Pty Ltd.

The Australia-based drug delivery company sold its medical supplies unit for about A$1.7 million, subject to further reconciliation, to Medical Sales & Service Pty Ltd.

Suda CEO Stephen Carter said the sale strengthens the drug delivery company's cash position and will allow it to focus on and grow its core pharmaceutical business.