Devgen Divests its Pharma Division to Focus on Agbiotech
November 7, 2008| |
Belgian biotechnology company Devgen announced that it will close its pharmaceutical division in order to focus on its agricultural operations. Devgen has developed a technology position in crop protection and has grown to a fully integrated trait and seed business in Asian markets, with a focus on rice, sorghum, sunflower and pearl millet and a licensing business in other crops. The company has offices in Singapore and Hyderabad, India.
Thierry Bogaert, company CEO, explained that the serious step was taken after consideration of all possible alternatives taking into account the interests of all stakeholders. Devgen will now focus its resources and will further develop in the agro-market segment where "the company has the strongest technology and business opportunities."
The press release is available at http://www.devgen.com/press_detail.php?id=1266812
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