June 28, 2013 / 10:42 AM / in 5 years

Fresenius sells biotech unit

FRANKFURT, June 28 (Reuters) - Germany’s Fresenius said it has sold its biotechnology business to the owners of Neopharm, Israel’s second largest pharma company, as it focuses on the other parts of its business that it sees as offering better opportunities.

The deal includes the unit’s two products - Removab and ATG-Fresenius S, Fresenius said, without disclosing terms.

It added the sale will have a positive effect on earnings from July.

Fresenius had said in December it wished to exit the division, but that it might look to keep immunosuppressive drug ATG-Fresenius S, used in organ and stem cell transplants. (Reporting by Victoria Bryan; Editing by Ludwig Burger)

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