BioMarin makes $840M gamble, buys Prosensa and its orphan drugs
- CA-based BioMarin Pharmaceuticals will purchase Dutch firm Prosensa in a $840 million deal, Reuters reports.
- The deal will give BioMarin the rights to several orphan drugs currently owned by Prosensa, the most significant being drisapersen, a treatment for the rare muscular degeneration disorder Duchenne muscular dystrophy.
- Under the terms of the agreement, BioMarin will pay $17.75 per Prosensa share (a 55% premium on its current price) and two $80 million milestone payments contingent upon drisapersen approval in the U.S. and the EU. Duchenne affects 1 in every 3,600 newborn males. Most die by age 30.
This is a big win for Prosensa and another piece of bad news for competitor Sarepta, whose own Duchenne drug (eteplirsen) has faced a number of roadblocks. Most recently, the FDA requested more detailed information from Sarepta and a wider selection of patients for its Duchenne clinical trials.
With the BioMarin deal, Prosensa is marching towards marketing approval. And considering the unmet medical need in this super-orphan category, drisapersen could easily become the go-to option for Duchenne patients.