Ipsen: sale of a priority review voucher in US
(CercleFinance.com) - Ipsen announced on Tuesday that it has reached an agreement to sell its Priority Review Voucher (PRV) for a rare pediatric disease to a major international pharmaceutical company.
The French pharmaceutical company says that it received this PRV last year following the approval of Sohonos, its drug for fibrodysplasia ossificans progressiva in children, by the US FDA.
Under the terms of the agreement, Ipsen will receive a cash payment of $158m upon the transaction's completion.
Ipsen explains that the transaction is in line with its drug launch and innovation strategy, which focuses on three key therapeutic areas: oncology, rare diseases and neuroscience.
We remain focused on bringing the best medicines to patients around the world, said Philippe Lopes-Fernandes, the company's chief business officer.
In 2012, the US legislature authorized the FDA to grant priority review vouchers to pharmaceutical companies to encourage them to develop new drugs for rare pediatric diseases.
Under the terms of this scheme, a laboratory that receives 'rare pediatric disease' approval for a drug may be entitled to a voucher that can be exchanged, transferred or sold to another player.
Following this announcement, Ipsen shares were up 0.3% on Tuesday morning on the Paris Bourse, pretty much in line with around a 0.2% rise in the SBF 120 index.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The French pharmaceutical company says that it received this PRV last year following the approval of Sohonos, its drug for fibrodysplasia ossificans progressiva in children, by the US FDA.
Under the terms of the agreement, Ipsen will receive a cash payment of $158m upon the transaction's completion.
Ipsen explains that the transaction is in line with its drug launch and innovation strategy, which focuses on three key therapeutic areas: oncology, rare diseases and neuroscience.
We remain focused on bringing the best medicines to patients around the world, said Philippe Lopes-Fernandes, the company's chief business officer.
In 2012, the US legislature authorized the FDA to grant priority review vouchers to pharmaceutical companies to encourage them to develop new drugs for rare pediatric diseases.
Under the terms of this scheme, a laboratory that receives 'rare pediatric disease' approval for a drug may be entitled to a voucher that can be exchanged, transferred or sold to another player.
Following this announcement, Ipsen shares were up 0.3% on Tuesday morning on the Paris Bourse, pretty much in line with around a 0.2% rise in the SBF 120 index.
Copyright (c) 2024 CercleFinance.com. All rights reserved.