Fresenius' biotech unit is already sold
Germany's global healthcare group, Fresenius, declared it had already sold its biotechnology industry to Neopharm, Israel's second-rate pharmaceutical company. The German corporation would just concentrate on its remaining businesses that could offer better opportunities in the future.
Fresenius said the sale would boost its earnings starting on July. It did not say anything about the conditions of the deal but it shared the agreement consisted of the firm's two products namely: Removab and ATG-Fresenius S.
Removab had Catumaxomab which was mainly a trifunctional antibody. Its mechanism revolved around recruiting immune cells and activating them to destroy positive carcinomas or cancer cells. On the other hand, ATG-Fresenius S was an immunosuppressive drug used in transplantation medicine. It had cured more than 190,000 patients in 60 countries around the world.
Fresenius started thinking about its options in December. It even said it might look to hang onto ATG-Fresenius S. However, now that the deal was already done, its focus was locked on the other segments of its firm.