Alpharma Inc. has announced that it has reached a definitive agreement to sell ParMed Pharmaceuticals Inc., its generic pharmaceutical telemarketing distribution business, to Cardinal Health Inc. for $40.1 million in cash.



The sale has been approved by Alpharma's board of directors and is expected to close in the first quarter of 2006. ParMed's revenues for the nine months ended Sept. 30, 2005, were approximately $53 million.



Alpharma Inc. is a global specialty pharmaceutical company with leadership positions in products for humans and animals. The company is among the world's leading producers of several specialty pharmaceutical-grade bulk antibiotics and is a leading international provider of pharmaceutical products for poultry and livestock.



SOURCE: Alpharma Inc.via PR Newswire.