On Tuesday, Enzon Pharmaceuticals (Nasdaq: ENZN) wanted to trumpet its first-ever data presentations at a major medical conference. Too bad an activist investor chose that same day to prod Enzon to consider more strategic alternatives. Enzon announced earlier this month that it would split its development-stage biotech pipeline assets from its specialty-pharma marketed drugs, in hopes of realizing a fuller value for the company. The company joins other drugmakers, including PDL BioPharma (Nasdaq: PDLI) and Nabi Biopharmaceuticals (Nasdaq: NABI), which have recently spun off, potentially sold, or announced plans to spin off their different businesses. Enzon's move to separate its myriad business lines followed calls from activist investors such as DellaCamera Capital Management and Carl Icahn for the company to better showcase...
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