Enzon to sell specialist pharmaceutical business to Sigma-Tau
Enzon Pharmaceuticals is to sell its specialist pharmaceutical business to Italian drugmaker Sigma-Tau Group for US$300m, along with milestone payments of US$27m.
Enzon Pharmaceuticals is to sell its specialist pharmaceutical business to Italian drugmaker Sigma-Tau Group for US$300m, along with milestone payments of US$27m.
The business includes four products: cancer drug Oncaspar, Adagen for severe combined immunodeficiency disease, meningitis drug DepoCyt and Abelcet, a fungal infection treatment. Sigma-Tau will also buy Enzon's manufacturing facility in Indianapolis, Indiana, US.
After the sale of the specialist drugs division, Enzon will focus on royalties, Peg SN38 and its LNA and PEG technology platforms for the treatment of cancer.
"We will refocus the company on our royalty business, pipeline, and technology platforms," said Alex Denner, Enzon chairman.
Sigma-Tau develops and commercialises medicines for rare diseases. The deal will expand its presence in the US and new therapeutic areas.
"We will increase our presence in the field of rare diseases with products of great value," said Claudio Cavazza, Sigma-Tau's president.
Sigma-Tau's headquarters are in Rome and the company has subsidiaries in France, Switzerland, Belgium, the Netherlands, Portugal, Germany, the UK, US and India, as well as in Spain and Sudan where the group operates two production facilities. It has more than 2,300 employees and a network of licensees worldwide.