Hyperion
Therapeutics, Inc. HPTX today announced the completion of its
acquisition of BUPHENYL® (sodium phenylbutyrate) Tablets and Powder, an
FDA-approved therapy for treatment of the most prevalent urea cycle disorders
(UCD), from Ucyclyd Pharma Inc., a subsidiary of Valeant Pharmaceuticals
International, Inc. VRX VRX. As part of this transaction,
Hyperion received a net payment of approximately $11 million due to Ucyclyd's
exercise of its option to retain AMMONUL® (sodium phenylacetate and sodium
benzoate) Injection 10%/10%, a hospital-based product used for the treatment
of acute hyperammonemia in UCD patients.
Hyperion was granted an option to acquire both BUPHENYL and AMMONUL under a
March 2012 collaboration agreement between Hyperion and Ucyclyd Pharma
Inc. However as part of the agreement, Ucyclyd had an option to retain
AMMONUL. The net payment to Hyperion reflects the $19 million purchase price
for BUPHENYL due to Ucyclyd and a $32 million payment due to Hyperion as a
result of Ucyclyd's exercise of its option to retain AMMONUL, less costs of
approximately $2 million in inventory due to Ucyclyd.
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