acquisition
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11 August 2016Big Pharma

Pharming to acquire rights for Ruconest

Pharming Group, a Netherlands based company, has agreed to buy the North American commercialisation rights to its drug Ruconest (recombinant human C1 esterase inhibitor) from Valeant Pharmaceuticals.

The deal will see Pharming pay up to $125 million including an upfront fee of $60 million, with additional sales milestone payments.

Ruconest, developed by Pharming, is approved for the treatment of acute hereditary Angiodema attacks in patients.

Valeant acquired the North American rights to the drug when it bought Salix Pharmaceuticals last year.

Salix previously acquired the rights by acquiring Santarus, with which Pharming entered into an 2010 agreement that covered the development and commercialisation of Ruconest in the US, Canada, and Mexico.

Pharming said the deal will accelerate its development into a profitable specialty pharmaceutical company.

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