Medivir subsidiary BioPhausia sells generics business for nearly $4.12 million

HUDDINGE, Sweden—Specialtypharmaceutical company BioPhausia AB, which in June 2011 was acquired by Medivir to commercialize TMC435 inthe Nordic markets once approved, has reached an agreement tosell its generics business in the form of subsidiary BMM Pharma AB toBluefish Pharmaceuticals for nearly $4.12 million.

The staff of BMM Pharma will not transfer in theacquisition.

"This deal is a natural last step in the concentration and focus ofBioPhausia's business, which began about a year ago. We will now befocusing on the ongoing commercial development of our proprietary products and parallel imported products" says Maris Hartmanis, CEOof BioPhausia AB.

Medivir is an emerging research-based specialty pharmaceutical companyfocused on the development of high-value treatments for infectiousdiseases, and it is known for its expertise in polymerase and proteasedrug targets and drug development in this segment. The company's keypipeline asset is TMC435, a protease inhibitor in phase III clinicaldevelopment for hepatitis C.

Medivir's first product, the cold sore product Xerese/Xerclear,was launched on the U.S. market in February 2011. Xerese/Xerclear,which has been approved in both the United States and Europe, is being launched inpartnership with GlaxoSmithKline for OTC sale in Europe, Japan andRussia. Rights in North America, Canada and Mexico were recently sold toMeda AB. Medivir has retained the Rx rights to Xerclear in Sweden andFinland.

SOURCE: Medivir