Evonik to buy Birmingham-based Product Line

Lactel offers a variety of polymers. (Photo from LACTEL) Evonik has signed an agreement to buy Durect Corp.’s Lactel Absorbable Polymer line, which is based in Birmingham. Evonik will pay Durect $15 million, plus an additional potential payment based on a full-year’s EBITDAS (net income before income taxes, interest income, depreciation…

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