Medivir's new subsid BioPhausia AB sells generics business to Bluefish

Huddinge, Sweden-based infectious disease research specialist Medivir (OMX: MVIR) says it recently-acquired BioPhausia AB subsidiary has reached an agreement to sell its generics business – the company’s BMM Pharma AB unit - to Swedish firm Bluefish Pharmaceuticals AB for 26 million Swedish kronor ($4.1 million) plus the value of inventories, some 12 million kronor The staff of BMM Pharma will not transfer in the acquisition.

“This deal is a natural last step in the concentration and focus of BioPhausia’s business, which began about a year ago. We will now be focusing on the ongoing commercial development of our Proprietary Products and Parallel Imported Products,” commented Maris Hartmanis, chief executive of BioPhausia.

“The acquisition of BMM Pharma is strategically important to our continued expansion. Our flexibility, strong platform and efficient organisation allow us to take advantage of attractive local business opportunities such as the acquisition of BMM, thereby enhancing our competitiveness and increasing our margins,” says Karl Karlsson, chief executive and founder of Bluefish.