3M Completes Sale of Dental Local Anesthetic Portfolio Assets to Pierrel



3M announced the completion of the sale of specific assets from its dental local anesthetic portfolio in Seefeld, Germany, to Pierrel S.p.A., a global pharmaceutical industry services provider. The purchase price for these assets was $70 million, subject to closing and other adjustments.


These local anesthetic products were primarily sold in Europe and Asia and included brands like Ubistesin, Xylestesin, and Mepivastesin, along with related syringe and needle products. These products were previously part of 3M’s oral care solutions division in the dental materials business.

As part of its strategic portfolio management, 3M made the decision to discontinue these products and instead focus on investments that utilize its Health Care business’ core Oral Care technologies.

3M still retains ownership of its Seefeld facility and operations, which continue to support 3M’s oral care business.

Although these local anesthetic products achieved approximately $30 million in annual sales in 2022, their ongoing operations did not have a significant impact on 3M’s financial results.

In the third quarter of 2023, 3M anticipates recording a gain related to the divestiture of this business. This gain will be reflected as an adjustment when determining the results, adjusted for special items.

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