Thursday, December 1, 2011

BioMarin buys back patents for rare disease drug for $81M

BioMarin Pharmaceutical Inc. bought the intellectual property at the core of the drug Naglazyme for $81 million cash, according to terms of a buyback deal disclosed Wednesday.
The Novato-based company (NASDAQ: BMRN), known for developing drugs to treat rare lysosomal storage diseases, said it paid the cash upfront to SA Pathology, a unit of the Central Adelaide Local Health Network in Australia. The patents are related to the purified form of Naglazyme and the method of using the enzyme to treat mucolpolysaccharidosis VI, or MPS VI.

No comments:

Post a Comment