Medeva pulls out of oncology business

02 December 1996 00:00  [Source: ICB]

MEDEVA IS to sell its German oncology business, Ribosepharm, to Klinge Pharma for DM121.6m ($81.7m). The sale is the first by Medeva of a complete business unit even though the company has sold individual products in the past.

Medeva said it sold the business as it had not achieved critical mass on the developed products in the German market, adding that the funds raised could be used more effectively elsewhere.

According to Bill Bogie, ceo of Medeva, the company decided oncology was not a core business. Part of the difficulty with oncology activities, he said, is finding cost-effective marketing teams, which must be highly trained and experienced.

He added: 'It is also very difficult to reach cost effectiveness on a drug when you can register it in one country but it is not available in others.'

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