** Shares of drug developer Anika Therapeutics ANIK.O fall 2.7% to $16.54 in afternoon trade
** Company says it completes planned divestiture of its Parcus Medical business to Medacta Group MOVE.S to focus on its core hyaluronic acid technology for osteoarthritis pain management and expand its regenerative solutions portfolio
** Anika says the sale was completed with total cash consideration received at closing for an undisclosed amount
** Company reported its plan to divest Parcus Medical in October 2024
** ANIK down 34.7% in the past 12 months
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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