Jena therapeutics ops sold to Dermanpharm

German drug major Schering AG says that its subsidiary Jenapharm GmbHhas agreed the sale of its therapeutics business to mibe Vertriebsgesellschaft Jena, an affiliate of Dermapharm AG, also of Germany. Financial terms of the deal were not disclosed, but Schering notes that the unit which is being sold generated turnover of 38 million euros ($46.7 million) in 2003.

The sale of Jenapharm's largely generic therapeutics operations is part of Schering's strategic focus program. Under the terms of the transaction, which is expected to be completed by October 1, more than 80 of Jenapharm's current employees will be taken on by the Dermapharm subsidiary.

Jenapharm's therapeutics business includes systemic corticoids, inhalation antiasthmatics and medicines for the treatment of osteoporosis. The complete product range comprises around 65 compounds, according to a Schering press statement.