Fonterra offloads pharmaceutical business, cuts debt

New Zealand dairy giant Fonterra (ASX: FSF) has offloaded its shareholding in pharmaceutical supplier DPE Pharma as it reorganises its businesses to cut debt. The company sold its 50 per cent shareholding in the international suppliier of dry inhalation powders for $589 million (NZD$633 million), ending its association with milk-based pharmaceuticals. The purchaser was capital…