Oct. 1st, 2015 – San Rafael-based BioMarin Pharmaceutical has acquired global rights to Kuvan and Pegvaliase from German’s Merk Serono, investing up to $569 million in the deal, if certain sales targets are met. Kuvan is a commercialized product for the treatment of patients with phenylketonuria (PKU). Pegvaliase is currently in registration-enabling pivotal studies for treatment of the same condition. Merk acquired exclusive rights to Kuvan and rights to develop from BioMarin in 2005. By regaining these rights, BioMarin will expand its commercial efforts in the treatment of PKU across global territories.
“This is an excellent transaction for BioMarin as it provides numerous operational and strategic synergies for the Company,” said Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin. “We will leverage our established worldwide infrastructure and strong relationships within the PKU community to ensure that patients globally have access to Kuvan, and potentially Pegvaliase upon approval. We look forward to expanding our PKU franchise beyond the US and Canadian markets and into our existing commercial footprint of about 60 countries where Kuvan is currently sold.”
For more information, visit the BioMarin website.