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Enzon Pharmaceuticals, Inc. (ENZN) to Sell Specialty Pharmaceuticals Business to the Sigma-Tau Group for $300 Million Plus up to $27 Million



11/9/2009 7:47:07 AM

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MarketWatch -- Enzon Pharmaceuticals Inc. said Monday that it will sell its specialty pharmaceutical business to the sigma-tau Group for $300 million plus up to $27 million, based on certain milestones. Enzon said it will also receive royalties of 5% to 10% on incremental net sales above a 2009 baseline amount from Enzon's four marketed specialty pharmaceutical products -- Oncaspar, Adagen, DepoCyt and Abelcet -- through 2014. The company expects the deal to be completed during the first quarter of 2010

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