Fresenius to sell off biotechnology division

Fresenius has announced that it will be selling off its biotechnology business after assessing a number of future strategies for the group.

The Fresenius Biotech subsidiary will be discontinued, with renewed focus to be placed upon the remaining Fresenius Medical Care, Fresenius Kabi, Fresenius Helios and Fresenius Vamed divisions.

Talks with a number of interested parties about a potential takeover have commenced, while Fresenius is also considering the option of continuing the well-established and consistently profitable immunosuppressive drug ATG-Fresenius S within the Fresenius group.

It has been confirmed that the trifunctional antibody Removab will be divested by the company, with a final decision on how to proceed to be made in the first quarter of 2013.

The company said in a statement: "Fresenius will focus on the attractive growth opportunities of its four core business segments, which have grown strongly over the last years and offer outstanding prospects."

Earlier this month, Fresenius strengthened its medical care division with the appointment of Olaf Schermeier as chief officer of global research and development, effective as of March 1st 2013.