Date: 2011-10-27
Type of information: Company acquisition
Acquired company: DuoCort Pharma (Sweden)
Acquiring company: Viropharma (USA)
Amount: up to $131 million
Terms: * On November 15, 2011, ViroPharma has announced that it completed its acquisition of DuoCort Pharma, a private company based in Helsingborg, Sweden focused on improving glucocorticoid replacement therapy. The acquisition of Duocort Pharma AB further expands ViroPharma's orphan disease commercial product pipeline. ViroPharma has paid an upfront closing cost of 220 million Swedish kroner (SEK) or $33.6 million. Additionally, there are contingent milestone payments of up to 860 million SEK or approximately $131 million associated with manufacturing, sales thresholds and territory expansion. On November 3, 2011, the European Commission granted European Marketing Authorization for Plenadren® (hydrocortisone, modified release tablet), an orphan drug for treatment of adrenal insufficiency in adults. ViroPharma anticipates commercial launch of Plenadren® in the EU in approximately one year. A named patient program is currently available to patients in the EU, which ViroPharma expects to continue until commercial launch. ViroPharma anticipates peak year sales for Plenadren® could reach up to $50 million dollars.
* On October 27, 2011, ViroPharma has announced that it has signed a definitive agreement to acquire DuoCort Pharma AB, a private company based in Helsingborg, Sweden focused on improving glucocorticoid replacement therapy. The acquisition of DuoCort Pharma AB will further expand ViroPharma's orphan disease commercial product pipeline. The company intends to discuss this acquisition on its third quarter financial results conference call this morning. Conditions to closing of this acquisition include (1) the approval of Plenadren by the EC; (2) EC confirmation of Committee for Orphan Medicinal Products (COMP) Orphan drug designation; and (3) an amended agreement with the product's contract manufacturer.
Details:
Related: drug industry
orphan drugs
