Enzon sells quarter share in hepatitis drug

BRIDGEWATER, N.J. Enzon Pharmaceuticals announced Monday it sold a 25 percent share in Schering-Plough Corp.'s Peg-Intron hepatitis C drug to privately held Drug Royalty Corp. for $92.5 million, the Associated Press reported.

Enzon is still entitled to a one-time milestone payment of $15 million in 2012, depending on royalties. The company will continue to retain its 75 percent interest in Peg-Intron royalty and 100 percent of other current and new royalties.

Schering-Plough is responsible for manufacturing, marketing and developing Peg-Intron. Enzon designed the drug to allow for less frequent dosing.