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

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