German healthcare group Fresenius has sold its biotech business for an undisclosed amount to the owners of Neopharm, Israel’s second-largest pharma company.
The deal gives the Fuhrer family control of both the monoclonal antibody malignant ascites treatment Removab and ATG-Fresenius S, an immunosuppressive for use in organ transplantation therapy.
David Fuhrer, chairman and CEO of Neopharm, said: “The acquisition represents a cornerstone in our strategic objective to transform Neopharm Group into a multinational fully-integrated bio-pharmaceutical company.
“Our objective is to establish Fresenius Biotech as an independent, rapidly-growing, innovative global player which is committed to bring hope to patients suffering from rare, life-threatening diseases.”
The deal follows Fresenius’ December 2012 decision to focus on its four established business segments Fresenius Medical Care, Fresenius Kabi, Fresenius Helios and Fresenius Vamed.
The company said it expects these segments to provide “significant growth opportunities” and added that it expected its agreement with Neopharm to have a positive effect on Group earnings from July.
Ulf Mark Schneider, Fresenius CEO, said: “The divestiture underlines our strong commitment to focused growth in our four core business segments. We are delighted that our biotechnology business will be in the capable hands of Neopharm, a company with entrepreneurial vision and an outstanding track record in the healthcare field.”