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Medivir Abandons Separate Listing, Sells Off Commercial Unit

 
• By Sukaina Virji

Medivir has decided a sale of its commercial arm BioPhausia makes better business sense than a separate listing, and is selling the unit to Karo Pharma for just over $100m.

Amid tough market conditions, Medivir AB CEO Niklas Prager is "convinced" that a sale of its Nordic Brands portfolio – operating as BioPhausia AB – to Karo Pharma "is the best way to maximize the value for our shareholders." He had been considering a separate listing on First North Premium, NASDAQ's European market for smaller, growing companies. (Also see "Medivir Plans For A Post-Simeprevir Future" - Scrip, 31 August, 2016.)

The SEK908m ($101m) cash and debt free sale to Karo Pharma means the commercial unit "can continue its positive development...

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