BioMarin to Acquire Global Rights to the Drug Kuvan
October 01 2015 - 7:40AM
Dow Jones News
By Lisa Beilfuss
BioMarin Pharmaceutical Inc. said Thursday that it has bought
the global rights from Merck & Co. to its oral drug to treat
genetic disorder Phenylketonuria, or PKU, a move to grow its
international market for the medicine.
The San Rafael, Calif.-based company will pay EUR340 million
($379 million) to Merck Serono, the biopharmaceutical division of
Merck, upfront for the rights to Kuvan. In addition, BioMarin may
pay an additional EUR60 million in milestone payments if combined
sales of the drug reach certain, undisclosed sales thresholds and
EUR125 million in regulatory milestones.
The two companies co-developed the drug, which is the first oral
treatment for hyperphenylalaninemia, or HPA, deficiency. In
patients with PKU, there is a defect in the enzyme phenylalanine
hydroxylase that converts the essential amino acid phenylalanine to
tyrosine thyroxine. The deficiency results in decreased levels of
tyrosine and an accumulation of phenylalanine in blood and tissues,
which, untreated, leads to severe brain damage, according to the
Mayo Clinic.
Kuvan reduces the concentration of phenylalanine in a PKU
patient's blood, and it allows patients to relax dietary
restrictions necessary to manage the condition.
Kuvan is approved in 51 countries, including the U.S.
Under the companies' previous agreement, Merck Serono, the
biopharmaceutical division of Merck, had exclusive rights to market
Kuvan outside of the U.S., Canada and Japan.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 01, 2015 07:25 ET (11:25 GMT)
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