|
Germany's Merck sells
rights to Kuvan back to BioMarin Pharma
Send a link to a friend
[October 01, 2015]
FRANKFURT (Reuters) - Germany's
Merck KGaA said it agreed to return to BioMarin Pharmaceutical Inc the
rights to the Kuvan drug against rare genetic disorder PKU as it seeks
to focus on cancer, immunology and neurology.
|
|
 Merck in 2005 acquired the rights to Kuvan and Peg-Pal, another PKU
treatment, outside the United States and Japan.
Under the agreement to reverse that deal, which will take effect in
January 2016, Merck will receive an upfront payment of 340 million
euros ($379.00 million), plus up to 185 million euros in additional
milestone payments depending on BioMarin's future development
achievements.
(Reporting by Ludwig Burger; Editing by Jonathan Gould)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
