Nabi to Shift Headquarters to Rockville After Sale

Nabi Biopharmaceuticals, a maker of plasma products with research facilities in Maryland, announced today the sale of its main operations in Boca Raton, Fla., to German drug manufacturer Biotest AG for $185 million. See Nabi's statement

Once the transaction is completed, Nabi said it plans to move its headquarters from Boca Raton to Rockville, where it currently conducts research and development. Nabi expects to continue to work on vaccines for Staphylococcus aureus and nicotine addiction, but the company said it is still looking for partners on those two products.

Under the deal, which is expected to close by the end of the fourth quarter, Biotest will assume production of Nabi's hepatitis B vaccine and take over a plasma protein plant and nine plasma collection centers.

"This agreement definitively puts us on the final path to a successful outcome of our strategic alternatives process," Dr. Leslie Hudson, Nabi's interim president and chief executive, said in a statement.

By Mike Shepard  |  September 11, 2007; 2:28 PM ET  | Category:  Pharmaceutical
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