Enzon Consolidates Manufacturing Operations

Enzon Pharmaceuticals, Inc. plans to consolidate its manufacturing operations in Indianapolis from its South Plainfield, NJ facility. The closing of the NJ facility is expected to impact approximately 50 employees. The company plans to assist them in their transition, and expects total restructuring charges of between $8 and $10 million associated with the transition, as well as a write-off of an estimated $8 million related to the leased facility in 2008.

This consolidation is part of the company’s efforts to streamline operations to optimize efficiencies. According to the company, it will continue to focus investment on key priorities including developing innovative oncology therapies and advancing its clinical pipeline. The consolidation is not expected to affect Enzon’s contract manufacturing operations.

“Enzon continues to focus on building a premier oncology business, developing and commercializing important medicines for patients with life-threatening diseases,” said Jeffrey H. Buchalter, chairman and chief executive officer of Enzon. “As we continue to drive towards delivering on this goal, we have to make difficult decisions such as this one. We express our gratitude to the employees affected by this change for their numerous contributions to Enzon over the years.”