Enzon Pharmaceuticals (ENZN) Sells Specialty Pharmaceutical Business for Up to $327M and Royalties
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- Enzon Pharmaceuticals (ENZN) Sells Specialty Pharmaceutical Business for Up to $327M and Royalties
- Enzon Pharmaceuticals (ENZN) to Sell Its Specialty Pharma Business to Sigma-Tau Group for Over $300 Million
- Enzon Announces Agreement to Sell Specialty Pharmaceutical Business
Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) announced that it has entered into a definitive agreement to sell its specialty pharmaceutical business to the sigma-tau Group for $300 million plus an additional amount of up to $27 million based on success milestones. Enzon will also receive royalties of 5 to 10 percent on incremental net sales above a 2009 baseline amount from Enzon’s four marketed specialty pharmaceutical products through 2014.
After the sale of these assets, Enzon’s businesses will consist of its royalties, Peg SN38 and our LNA and PEG technology platforms.
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