Fresenius to acquire dialysis product

Dialysis-services provider Fresenius Medical Care, Bad Homburg, Germany, agreed to acquire PhosLo, a dialysis product, and related assets from Nabi Biopharmaceuticals, Boca Raton, Fla., for $65 million in cash and up to $85 million in milestone and royalty payments. The deal is expected to close in 30 days, subject to antitrust clearance and other conditions. Fresenius also agreed to acquire the rights to a product under development. PhosLo is a phosphate binder taken by dialysis patients to help regulate the phosphate in their blood. Annual revenue from PhosLo is between $36 million and $40 million, said Thomas Rathjen, Nabi’s vice president of investor relations. -- by Jessica Zigmond