PharmaNet mulls possible sale

By Lisa Kerner

Charlotte, N.C., Dec. 19 - PharmaNet Development Group, Inc. is considering strategic alternatives, including a possible sale of the company, with the assistance of UBS Investment Bank.

The Princeton, N.J., drug development services company said it has received a number of confidential, non-binding written expressions of interest, none of them coming from direct competitors.

PharmaNet will not comment further on the strategic review process unless or until a definitive agreement has been reached or it changes its strategic direction, according to a company news release.

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