Enzon sells speciality pharma unit to sigma-tau for $300 million
This article was originally published in Scrip
Executive Summary
Shares in Enzon Pharmaceuticals rose by 9.5% to close at $9.83 on November 9th after it announced the sale of its marketed products business. It has agreed to sell its four speciality pharmaceutical products to Italy's sigma-tau Group for $300 million plus up to $27 million in milestones and certain royalties. The products generated revenues of $29 million in the third quarter, down by 1% on the previous year.