Medivir Subsidiary Sells Generics Business

BioPhausia, a subsidiary of Sweden's Medivir, is to sell its generics business, BMM Pharma, to Bluefish Pharmaceuticals.

Medivir subsidiary, BioPhausia, has reached an agreement to sell its generics business, BMM Pharma, to Swedish Bluefish Pharmaceuticals for $4.1 million plus inventories valued at approximately $1.9 million.

BMM Pharma’s staff will not transfer in the acquisition. Medivir is a Swedish research-based specialty pharmaceutical company focusing on infectious diseases.

"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,” said Maris Hartmanis, chief executive office of BioPhausia.