Enzon Pharmaceuticals to Spin Off Unit

Enzon Pharmaceuticals (Bridgewater, NJ) says it plans to spin off its novel biotechnology business to create separate biotechnology and speciality pharmaceutical public companies. The transaction is expected to be completed in the fourth quarter. “The opportunities for both the specialty pharmaceutical business and the biotechnology business could be substantially enhanced, and greater value could be created than under the current structure,” says Jeffrey Buchalter, chairman, president, and CEO of Enzon. “Operating separately will allow each...

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