Enzon Pharmaceuticals might sell Indy facility

Does anyone know what affect this will have on those patients who need PEG-ADA to survive?

Enzon Pharmaceuticals might sell Indy facility

Mon. August 11 – 2008
Norm Heikens –  nheikens@ibj.com
IBJ staff

By Norm Heikens

An Indianapolis plant that manufactures specialty drugs might be sold, its parent announced yesterday.

Enzon Pharmaceuticals Inc., based in Bridgewater, N.J., said it might sell the plant or one or all of its products as part of a strategic review of its specialty pharmaceutical business.

The plant at 6925 Guion Road on the far-northwest side makes Oncaspar, for leukemia; DepoCyt, for meningitis; Abelcet, for fungal infection; and Adegen, for the “bubble boy disease” immune disorder.

Enzon did not return calls seeking comment. In early 2007, Indy Partnership, the organization that markets Indianapolis to expansion-minded companies, said the operation employed about 100 workers.

The company said it has received preliminary interest from companies considering buying all or part of the business.

This summer, Enzon moved to spin off its biotechnology business as a separate publicly traded company under the name Evivrus Inc.

Billionaire shareholder Carl Icahn has pressed the company to unload assets or sell itself in order to increase value to shareholders.

Enzon stock has languished below $10 a share since 2006. The shares traded at $8.74 today.

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