As a handful of companies spin out health businesses, Germany's Schott glassmaker looks to get in on the action
While most people think of glass as something to drink from or look through, the material also has many uses in pharma.
German glassmaker Schott has been manufacturing glass for a wide range of uses for 138 years and has built up a robust healthcare division.
The company announced on Monday that it’s establishing a standalone company specifically for its pharma business. According to Schott, its pharma division has grown faster than the market in recent years, warranting a standalone company. As part of the carve-out, the pharma side will operate under the new name of Schott Pharma AG & Co. KGaA. The move is expected to be completed by the end of the year.
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