Sector News

Drug maker Sobi eyes sale of Partner Products unit

February 6, 2017
Life sciences

Swedish drug maker Swedish Orphan Biovitrum (Sobi) said on Friday it was in talks with a private equity firm regarding a possible sale of its Partner Products business area.

“We have noted specific information in the market regarding a possible sale of Sobi Partner Products. We confirm that we are in discussions which may or may not lead to an agreement,” Sobi CEO Geoffrey McDonough said in a statement.

Sobi, which has Investor AB as its biggest owner, said the talks did not include drugs Kineret and Orfadin.

Partner Products had sales of 617 million Swedish crowns ($70 million) in the January-September period 2016, while Sobi’s total sales were 3.9 billion crowns.

Sobi rose 2.1 percent at 1402 GMT after an earlier trading halt was lifted. The share was flat before the trading halt.

By Johannes Hellstrom

Source: Reuters

comments closed

Related News

July 14, 2024

Flagship raises $3.6B for biotech investing

Life sciences

Flagship Pioneering said Wednesday that it’s added another $3.6 billion to its capital base, bringing the total raised since 2021 to $6.4 billion. Meanwhile, Flagship announced more than a dozen promotions and new hires in its leadership ranks. The changes include the promotions of Lovisa Afzelius and Paul Biondi to general partner and the addition of Dina Ciarimboli as general counsel and executive partner.

July 14, 2024

Mikael Dolsten set to leave Pfizer, sparking search for CSO successor

Life sciences

After 15 years at Pfizer, including a career-defining pandemic period, the chief scientific officer will leave the Big Pharma once the drugmaker finds his successor. Dolsten joined Pfizer when the company closed a megamerger with Wyeth in 2009. Pfizer made Dolsten president of worldwide R&D the following year. The executive has stayed at the top of Pfizer’s R&D tree ever since.

July 14, 2024

CDMO Lotte breaks ground on $3.3B production plant in Korea, touts growth goals

Life sciences

Late last week, Lotte Biologics broke ground on its flagship facility at the Songdo Bio Campus in Incheon International City, South Korea. The company is pitching the production effort as a key part of its quest to become one of the top 10 contract development and manufacturing organizations (CDMOs) in the world, Lotte said in a press release.

How can we help you?

We're easy to reach