Hyperion Therapeutics Buys Worldwide Rights to BUPHENYL

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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!