Omega-3 producer sold for £225m

Norwegian company TRYGG Pharma, a joint venture between biotech firm Aker BioMarine and private investment firm Lindsay Goldberg, yesterday agreed to sell its Omega-3 production business Epax to US chemical company FMC Corporation for $345m (£225m). The sale will allow Trygg Pharma to focus on developing its pharmaceutical programmes. As part of the deal, Trygg Pharma and Philadelphia-based FMC have entered into a long-term supply agreement for one of its pharmaceutical products. Jefferies acted as financial adviser to Trygg Pharma, while BA-HR and Weil, Gotshal & Manges served as legal counsel. Epax is headquartered in Oslo, Norway and has production sites in both the Scandanavian country and the UK.