Enzon May Sell Specialty Pharma Unit

Enzon Pharmaceuticals is exploring strategic options for its specialty pharmaceuticals business. These options include selling the entire specialty business or selling one or more of Enzon’s marketed products, Oncaspar, DepoCyt, Abelcet and Adagen, as well as the company’s Indianapolis, IN manufacturing facility.
   
Enzon reported that it’s received “confidential, non-binding interest for the purchase of all or a portion” of the specialty pharma business. The company intends to continue evaluating the sale process, while continuing to move forward with the previously announced spin-off of its biotechnology business. On July 31, 2008 Enzon filed a registration statement on Form 10 and related information statement with the SEC under the name Evivrus, Inc.
   
“We are committed to delivering value to our shareholders in the most efficient manner possible,” said Jeffrey H. Buchalter, Enzon’s chairman, president and chief executive officer. “During our efforts to spin-off our biotechnology business, it became clear that we should also explore attractive opportunities for Enzon’s other businesses. Our decision to explore alternatives for our specialty pharmaceuticals business is an outgrowth of that thinking and has the potential to allow Enzon to focus exclusively on our novel biotechnology business as an alternative to our previously announced spin-off.”