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Enzon Pharmaceuticals sells Indy drug plant; 100 local jobs safe

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An Indianapolis plant that manufactures specialty drugs has been sold by its parent company as part of a deal that could be worth more than $300 million.

New Jersey-based Enzon Pharmaceuticals Inc. said Friday that it closed the sale of its specialty pharmaceutical business to the Italian-owned Sigma-Tau Group. The sale included the plant and several Enzon drugs produced at the facility.

The operations at 6925 Guion Road manufacture four drugs: Oncaspar, for leukemia; DepoCyt, for meningitis; Abelcet, for fungal infection; and Adegen, for the “bubble boy disease” immune disorder.

Enzon may be entitled to an additional $27 million based on the achievement of certain milestones, in addition to royalties of up to 10 percent on profit through 2014.

The plant employs about 100 workers, and the manufacturing operations will remain in Indianapolis, Sigma Tau spokesman Marc Tewey said.

The plant and its products that treat rare diseases are a "nice addition" to Sigma Tau, which focuses on orphan drugs, Tewey said. Orphan drugs, as they're known in the pharmaceutical industry, treat diseases that afflict fewer than 200,000 patients in the United States.

The plant also contracts with outside companies to manufacture their drugs, and Tewey said Sigma Tau will attempt to expand that outside business. 

Enzon announced in August 2008 that it might sell the plant, or one or all of its products, as part of a strategic review of its specialty pharmaceutical business.

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 near $10 a share since 2006. The shares opened Monday morning at $9.97.
 

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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