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GE chief Larry Culp sells biopharma business for $21.4 billion

Updated : February 25, 2019 11:03 PM IST

The deal will provide GE with a much-needed cash infusion as the maker of power plants and aircraft engines struggles to pay off billions of dollars of debt and insurance liabilities.
The company, once a symbol of American business power and management prowess, has struggled with crisis-era losses linked to its finance arm, forcing it to divest its non-core businesses and return to its industrial roots.
GE chief Larry Culp sells biopharma business for $21.4 billion
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