Clal Biotech owns 55% and Teva owns 13%, with an option to increase its holding.
Clal Biotechnology Industries Ltd. (TASE: CBI) today announced that it expects to report a capital gain of NIS 210-330 million on the planned transaction that will reduce its stake in burn treatment portfolio company MediWound Ltd. to below 50%.
In this week's announcement of the deal, Clal Biotech said that it expected to report a "very substantial" capital gain on the deal, based on the fair value of MediWound. Clal Biotech owns 55% of MediWound and Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) owns 13%, and has an option to increase its holding. Market sources believe that the collaboration between MediWound and chronic wound treatment therapy developer Polyheal Ltd. may involve Teva or foreign pharmaceutical companies.
In a separate development, Clal Biotech also announced today that it has completed the acquisition of Biomedical Investments (1997) Ltd.
Clal Biotech's share rose another 4.3% in early trading today to NIS 23.70.
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2010
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