10 August 2023

---

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

---

3M announced on Aug. 1 that it has completed the sale of assets from its dental local anesthetic portfolio, based in Germany, to Pierrel S.p.A. for a purchase price of $70 million.

According to a news release, the 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 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. 

About 3M

3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas and science to reimagine what's possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we're working to improve lives and make what's next at 3M.com/news or on Twitter at @3M or @3MNews.

The company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M's news center and the social media channels such as Twitter @3M or @3MNews.