Aspen Pharmacare disclosed that it was considering a sale of its infant formula business, as reported NASDAQ Tuesday.
"Aspen is currently engaged in discussions regarding a possible divestment of its global infant nutritionals business," the drugmaker remarked.
"It's going to inject some cash into the balance sheet," stated Independent Securities trader Ryan Woods.
Aspen revealed earlier this year that it was reviewing strategic options for the business including a sale to a strategic partner.
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