Life sciences company Cambrex Corp. on Tuesday said it has agreed to sell two of its businesses to Switzerland's Lonza Group AG for $460 million following a review of its operations.

Cambrex said it is selling its bioproducts and biopharma businesses, which accounted for 42 percent of revenue in 2005, to focus on its human health operations.

The bioproducts business makes and sells research, therapeutic and analytical testing products that are based on cell biology and used in drug discovery and biotherapeutic manufacturing. The biopharma business handles contract biopharmaceutical manufacturing and process development.

Cambrex plans to use the $450 million in proceeds from the sale, plus an additional $125 million to $150 million from expected new lines of credit to pay a special dividend to shareholders. Cambrex currently expects the special dividend to be about $13.50 to $14.50 per share.

Cambrex said the decision to focus on its human health business, which makes active pharmaceutical ingredients and intermediates used in over-the-counter and prescription drugs, as well as intermediates for cosmetics and food additives, follows a review begun in February. Cambrex said it plans to reduce overhead at the human health business by $8 million per year while boosting its position in certain niche markets through internal development and acquisitions.

Lonza's chief executive, Stefan Borgas, said the acquisition was the largest in his company's history, and the company aims to build itself into one of the world's largest suppliers of ingredients to the pharmaceuticals industry.

Tuesday's announcements comes just days after Cambrex announced the sale of units based in Cork, Ireland and Landen, Belgium.