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Enzon Considers Selling Specialty Pharma Unit

Company could possibly sell its specialty pharmaceuticals unit as it moves forward with a spinoff of its biotechnology division.

BRIDGEWATER, N.J. (AP) -- Enzon Pharmaceuticals Inc. said Monday it could possibly sell its specialty pharmaceuticals unit as it moves forward with a spinoff of its biotechnology division.

The company said it is exploring strategic alternatives for the specialty unit which makes cancer treatments including Oncaspar and DepoCyt. That strategy could include selling the entire unit or pieces of it.

Enzon said it received "confidential, nonbinding, preliminary indications of interest" for the buyout of all or parts of its specialty unit.

In July, the company began its plan to spin off the biotechnology unit by funding a new entity called Evivrus.

Enzon shares closed at $8.76 Friday.

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