3M completes sale of dental local anesthetic portfolio assets to Pierrel

ST. PAUL, Minn., Aug. 1, 2023

These local anesthetic products, sold primarily in Europe and Asia, include products sold under the Ubistesin™, Xylestesin™ and Mepivastesin™ brands as well as related syringe and needle products. These were formerly a part of the dental materials business in 3M's Oral Care Solutions Division.

As part of ongoing strategic portfolio management, 3M decided to exit these products and prioritize investments that leverage its Health Care business' core Oral Care technologies. 3M has retained ownership of its Seefeld facility and operations, which support 3M's Oral Care business.

These local anesthetic products had annual sales in 2022 of approximately $30 million and the impact of its ongoing operations were not material to 3M's financial results.

3M expects to record a gain in the third quarter of 2023 related to this business's divestiture which it will reflect as an adjustment in arriving at results, adjusted for special items. 

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