Sicor Sells Metabasis Stock to Unit Managers

Sicor Inc. said Thursday it sold a 46% stake in its Metabasis Therapeutics Inc. unit to Metabasis management, headed by Paul Laikind. Financial terms weren’t disclosed.

Sicor, an Irvine pharmaceutical company, said it will retain a 46% stake in Metabasis, a biopharmaceutical company, and will receive royalty payments if technologies owned by Metabasis are licensed or if products are developed and sold using those technologies. Because of the uncertain value of the remaining interest, Sicor plans to take a $2-million special accounting charge in the second quarter to write off its investment.