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sigma-tau Group Completes Acquisition of Enzon’s Specialty Pharmaceutical BusinessGAITHERSBURG, MD – January 29, 2010 - sigma-tau Group announced today it has acquired Enzon Pharmaceuticals Inc.’s specialty pharmaceutical business. This completes the sale of four marketed products, Oncaspar®, Adagen®, DepoCyt® and Abelcet®, as well as a manufacturing facility in Indianapolis, Indiana. "This is an exciting time for Sigma-Tau," said Gregg Lapointe, Chief Executive Officer of Sigma-Tau Pharmaceuticals, Inc. "With this deal, we’ve essentially doubled our product portfolio with medicines that aptly align with our company’s mission to provide new therapies and new hope to people with rare diseases." Sigma-Tau’s distinctive treatments currently address rare disease in the areas of metabolism, oncology and renal failure. The addition of these four compounds further expand its oncology offerings (Oncaspar® and DepoCyt®), and provide treatments in the areas of immunodeficiency disorders (Adagen®) and invasive fungal infections (Abelcet®). "Our commitment to people with rare diseases is stronger than ever before," continued Lapointe. "This includes ensuring that these and other innovative therapies are made available to those who need them." Under the terms of the transaction, Enzon received $300 million in cash, and may receive as much as $27 million in milestone payments and 5 to 10 percent in royalties through 2014. The manufacturing facility in Indianapolis has been incorporated under the name Sigma Tau PharmaSource, Inc. and is a wholly owned subsidiary of Sigma Tau Pharmaceuticals, Inc. Sigma Tau PharmaSource specializes in complex injectable formulations and is available for contract manufacturing services in addition to producing several of the products acquired from Enzon. About sigma-tau Group sigma-tau is a leading, international, pharmaceutical group with a wholly Italian-owned capital that invests in the research, development and marketing of innovative and effective treatments to improve patient well-being and quality of life. sigma-tau has its headquarters in Pomezia (Rome, Italy), and subsidiaries in France, Switzerland, Belgium, the Netherlands, Portugal, Germany, the UK, USA and India, as well as in Spain and Sudan where the Group operates two production facilities. It has over 2300 employees and an extensive network of licensees worldwide. sigma-tau was founded in Italy in 1957 and achieved a global turnover of € 613 million ($909 million) in 2008. sigma-tau SpA consistently invests approximately 16% of its annual turnover in R&D. sigma-tau’s R&D staff of approximately 400 people is currently running 46 R&D projects. A total of 13 NCEs and 12 known molecular entities in 33 different indications are at various stages of development. Among them, several are aimed at rare diseases. Therapeutic areas in which the company's research and development are focused include metabolism, neurology, cardiovascular, oncology and immunology. sigma-tau website: www.sigma-tau.it. About Sigma-Tau Pharmaceuticals, Inc. Sigma-Tau Pharmaceuticals, Inc. is a U.S. based, wholly owned subsidiary of the Sigma-Tau Group, and is dedicated solely to the global development and commercialization of medicines for patients with rare diseases. Sigma-Tau Pharmaceuticals, Inc. is based in Gaithersburg, Maryland. Since 1989, the company’s products have been focused on rare diseases, kidney disease, and cancer. With more than 6,000 identified rare diseases that affect approximately 25 million patients in the United States, Sigma-Tau places its considerable scientific resources behind the development and commercialization of compounds that benefit the few. The company has substantial development programs focused on transplant, cancer, inherited genetic disorders, malaria, and other areas of unmet medical need. For more information about the company, visit www.sigmatau.com Company Contacts: |
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