Enzon Inc., Schering Corp. deal

ENZN and the Schering-Plough Corp. subsidiary revised their 1990 agreement for the development of PEG-INTRON A, a modified form of Schering's interferon alfa-2b. Under the new agreement, Schering (Madison, N.J.) will acquire for $5 million ENZN's know-how and manufacturing rights to the anticancer and antiviral agent.

Schering bought $2 million of newly issued common stock at market value, paid a $2 million licensing fee, and will pay $1 million upon completion of the technology transfer, which ENZN anticipates will occur within a year. ...