The shares were sold to PRI, Clal Industries’ US partner in Clal Pharmaceutical Resources, which will now be the sole owner of Clal Pharmaceutical Resources. The move is part of the Clal concern’s exit from the pharmaceuticals sector.
Clal Industries has sold all holdings in Clal Pharmaceutical Resources Inc. amounting to a 51% share, for $2.4 million. The purchaser is PRI, Clal Industries’ US partner in Clal Pharmaceutical Resources, which will now be the sole owner of Clal Pharmaceutical Resources.
Clal Pharmaceutical Resources, which has a factory in Even Yehuda, was set up several years ago for pharmaceutical research and development, after the concern decided to expand its business in that area.
Clal Industries continues to own 10% of PRI, but estimates are that share will be sold off as well, due to a strategic decision to exit the pharmaceuticals sector.