Drug maker Pfizer Inc., with operations in Groton, is selling sell its Capsugel capsule-making business to private equity firm Kohlberg Kravis Robert & Co. for $2.38 billion in cash, The Associated Press reports.
In October, Pfizer said it would review options for Capsugel and might sell the company.
Pfizer, which is the world’s biggest drugmaker, said it will use proceeds from the sale to buy back additional stock and may use some of the funds to make other investments or deals.
