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Protalix Gets $25 Million Milestone Payment For Rare-Disease Drug

By Kristin Jones Protalix BioTherapeutics Inc. (PLX) has received a $25 million milestone payment from Pfizer Inc. (PFE) after the U.S. Food and Drug Administration approved its new drug for the treatment of Gaucher disease. On May 1, U.S. regulators approved taliglucerase alfa, sold as Elelyso, for the treatment of type 1 Gaucher disease, a genetic disorder that can cause enlargement of the spleen and liver, as well as lung disease and bone problems. Pfizer and Protaliz entered an exclusive agreement for the development and commercialization of Elelyso in November 2009. Under the terms of the deal, Pfizer has an exclusive license to sell Elelyso, except in Israel. Elelyso, an infusion administered by health-care professionals every other week, is the first plant-derived cell-based enzyme replacement. It will compete in the U.S. with the Gaucher-disease treatment Cerezyme, produced by Genzyme, the U.S. biotechnology unit of Sanofi S.A. (SNY, SAN.FR) and Shire PLC's (SHPGY, SHP.LN) Vpriv. Protalix shares rose 2.4% to $6.85 in premarket trading. The stock is up 36% so far this year. Write to Kristin Jones at kristin.jones@dowjones.com

Stock News for Protalix Biotherapeutics (PLX)
DateTimeHeadline
06/19/201309:17:54U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
06/19/201308:26:20Protalix Reaches Pact to Transfer Technology for Gaucher Disease...
04/29/201308:40:57Protalix BioTherapeutics Treatment for Gaucher Disease Approved...
12/06/201208:36:34Protalix Signs Deal With Pfizer to Continue Managing Elelyso...
06/22/201209:50:54EMA Recommends Against Marketing Authorization to Pfizer and...
06/11/201208:29:40Protalix Gets $25 Million Milestone Payment For Rare-Disease...
05/02/201216:17:45US Stocks Trade Lower Late On Concerns Over Hiring, Europe
05/02/201214:40:14US Stocks Edge Lower On Weak Private-Sector Hiring
05/01/201217:37:05CORRECT: FDA Approves Protalix, Pfizer Drug To Treat Gaucher...
05/01/201217:07:24FDA Approves Protalix, Pfizer Drug To Treat Gaucher Disease
08/17/201108:57:24FDA Accepts Protalix Resubmission For Gaucher Disease Drug; Shares...
02/25/201107:31:34Protalix: FDA Requests More Information On Gaucher's Drug
10/01/201011:53:15Genzyme Efforts To End Cerezyme Shortage Proceeding
09/15/201013:31:11Genzyme To End Fabrazyme Rationing By Mid-2011
07/12/201007:02:50FDA May Not Rule On Protalix's Gaucher's Treatment Until 2011
02/19/201007:52:16Shire 4Q Profit Up 23% As Drug Sales Offset Generic Losses
12/01/200912:10:05Pfizer-Protalix Deal Strengthens Competition For Genzyme
12/01/200907:25:14Pfizer To Pay Protalix Up To $115 Million In Gaucher's Deal

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