Navigation Links
BioMarin Announces Buy Back of Naglazyme Royalties From Adelaide Health Authority
Date:11/30/2011

NOVATO, Calif., Nov. 30, 2011 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced that it has completed the buy back of certain intellectual property from SA Pathology, a unit of the Central Adelaide Local Health Network located in Adelaide, Australia for an upfront payment of $81 million.  The intellectual property includes patents related to the purified form of Naglazyme and the method of using the enzyme in the treatment of MPS VI, which expire between 2022 and 2023.  Prior to this transaction, BioMarin licensed this intellectual property from SA Pathology and paid a five percent royalty on net sales of Naglazyme. 

"We are pleased to complete this transaction as we are confident in the future sales potential of Naglazyme.  We continue to expand the product into new geographies and expect steady growth for years to come.  We do not see any competition on the horizon due to the extremely small patient population, the complexity and expense of manufacturing the product and the intellectual property covered by the patents," said Jean-Jacques Bienaime, Chief Executive Officer of BioMarin.  "The transaction will allow BioMarin to generate approximately $10 to $15 million in cash per year with no incremental operating costs.  This deal makes sense for BioMarin because we see continued growth in the global Naglazyme business."

About BioMarinBioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises four approved products and multiple clinical and pre-clinical product candidates. Approved products include Naglazyme® (galsulfase) for mucopolysaccharidosis VI (MPS VI), a product wholly developed and commercialized by BioMarin; Aldurazyme® (laronidase) for mucopolysaccharidosis I (MPS I), a product which BioMarin developed through a 50/50 joint venture with Genzyme Corporation; Kuvan® (sapropterin dihydrochloride) Tablets, for phenylketonuria (PKU), developed in partnership with Merck Serono, a division of Merck KGaA of Darmstadt, Germany; and Firdapse™ (amifampridine), which has been approved by the European Commission for the treatment of Lambert Eaton Myasthenic Syndrome (LEMS). Product candidates include GALNS (N-acetylgalactosamine 6-sulfatase), which is currently in Phase III clinical development for the treatment of MPS IVA, amifampridine phosphate (3,4-diaminopyridine phosphate), which is currently in Phase III clinical development for the treatment of LEMS in the U.S., PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase), which is currently in Phase II clinical development for the treatment of PKU, BMN 701, a novel fusion protein of insulin-like growth factor 2 and acid alpha glucosidase (IGF2-GAA), which is currently in Phase I/II clinical development for the treatment of Pompe disease, and BMN 673, a poly ADP-ribose polymerase (PARP) inhibitor, which is currently in Phase I/II clinical development for the treatment of genetically-defined cancers. For additional information, please visit www.BMRN.com. Information on BioMarin's website is not incorporated by reference into this press release.

Forward-Looking StatementThis press release contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc., including, without limitation, statements about: the expectations of revenue and sales related to Naglazyme; the financial performance of the BioMarin as a whole; the continued clinical development and commercialization of Naglazyme; and actions by regulatory authorities. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: our success in the continued commercialization of Naglazyme; our ability to successfully manufacture our products and product candidates; the content and timing of decisions by the U.S. Food and Drug Administration, the European Commission and other regulatory authorities concerning each of the described products and product candidates; the market for Naglazyme; actual sales of Naglazyme; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's 2010 Annual Report on Form 10-K, and the factors contained in BioMarin's reports on Form 10-Q. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.

BioMarin®, Naglazyme®, Kuvan® and Firdapse™ are registered trademarks of BioMarin Pharmaceutical Inc.

Aldurazyme® is a registered trademark of BioMarin/Genzyme LLC.Contact:

 Investors

MediaEugenia Shen

Bob PurcellBioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc.(415) 506-6570 

(415) 506-3267 


'/>"/>

SOURCE BioMarin Pharmaceutical Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. BioMarin Initiates Phase 2 Study for GALNS in Patients Under Five Years of Age With MPS IVA
2. BioMarin Announces FDA Approval of Expanded Biologics Manufacturing Facility
3. BioMarin to Host a Research and Development Day on December 8th
4. BioMarin Announces Third Quarter 2011 Financial Results
5. BioMarin to Present at the UBS Global Life Sciences Conference
6. BioMarin to Present at the Morgan Stanley Global Healthcare Conference
7. BioMarin to Present at the Baird Health Care Conference
8. BioMarin to Present at the Wedbush Life Sciences Conference
9. BioMarin Announces Second Quarter 2011 Financial Results
10. BioMarin to Host Second Quarter 2011 Financial Results Conference Call and Webcast on Thursday, July 28 at 5:00 p.m. ET
11. BioMarin Agrees to Acquire Biologics Manufacturing Plant in Ireland from Pfizer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2016)... -- Diana Russell suffers from a form of rheumatoid arthritis ... This disease has put her in a wheelchair, and ... to leave her home.  Because of the size and ... wheelchair.  So if there is a family function, the ... to wait for the bus. Photo - ...
(Date:5/24/2016)... , May 24, 2016 Celsion ... drug development company, today provided an update on ... escalating clinical trial combining GEN-1, the Company,s DNA-based ... treatment of newly-diagnosed patients with advanced ovarian cancer ... debulking surgery.  GEN-1 is an IL-12 DNA plasmid ...
(Date:5/24/2016)... , May 24, 2016 ... de doble terapia del mundo, introduce catéteres para ... OrbusNeich, una compañía global especializada en ... vidas, ha expandido su cartera incluyendo productos para ... JADE™ y Scoreflex™ PTA son los dispositivos de ...
Breaking Medicine Technology:
(Date:5/28/2016)... ... May 28, 2016 , ... "Color Grading media can be time consuming but ... their media," said Christina Austin - CEO of Pixel Film Studios. , With ... add stylish color grades to their footage. A LUT is a Lookup Table that ...
(Date:5/27/2016)... ... , ... Southland Log Homes , designer and manufacturer of America’s Favorite ... can be found on its website at SouthlandLogHomes.com. , The designs of the ... the craftsmanship of timber post and beam construction. The result is a barn ...
(Date:5/27/2016)... NY (PRWEB) , ... May 27, 2016 , ... This ... of a stroke, which we as a society can control and change. , As ... occurs nearly every 40 seconds within the United States. Plus, with an estimated 129,000 ...
(Date:5/27/2016)... ... May 27, 2016 , ... Aimed at nurses and employees in the health ... of leaders in the nursing and health care industry. It also provides insight to ... Christian University. , As the nursing industry is coming out of one of ...
(Date:5/26/2016)... ... May 26, 2016 , ... W.S. Badger Co. Inc ., the maker ... 2016 When Work Works Award for its use of effective workplace strategies to increase ... Works project administered by the Families and Work Institute (FWI) and the Society for ...
Breaking Medicine News(10 mins):