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Article: Nabi Biopharmaceuticals Closes Sale of PhosLo(R) to Fresenius Medical Care.
- Article from:
- PR Newswire
- Article date:
- November 14, 2006
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BOCA RATON, Fla., Nov. 14 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals announced today that it has completed the previously announced sale of PhosLo(R) (calcium acetate) and the product's related assets to a US subsidiary of Fresenius Medical Care ("Fresenius") for consideration of up to $150 million in up front cash, milestone payments, and royalties on sales of a new product formulation under development.
Fresenius has paid Nabi Biopharmaceuticals $65 million in cash and will pay an additional $20 million upon the successful completion of certain milestones, $5 million of which will be paid within five business days of the closing. Fresenius has also ...