Merck Agrees to Return Kuvan Rights to BioMarin Pharmaceutical

02-Oct-2015 - Germany

Merck announced that it has reached an agreement with BioMarin Pharmaceutical, Inc., San Rafael, California, U.S., to return the rights to Kuvan, used to treat phenylketonuria (PKU), a rare metabolism disorder, as the company focuses its healthcare business on core areas.

In addition to Kuvan^®, the two companies agreed that Merck will return its option to develop and commercialize Peg-Pal, an investigational drug that is also designed for the treatment of PKU, an autosomal recessive genetic disorder caused by either a defect or a deficiency of the enzyme phenylalanine hydroxylase or its co-factor tetrahydrobiopterin. Merck will receive an upfront payment of € 340 million, equal to five times its annual sales, for Kuvan^®, plus up to € 185 million in additional milestones for both products. The agreement is expected to become effective Jan. 1, 2016.

“Returning the rights of Kuvan^® and Peg-Pal to BioMarin will allow Merck to fully focus on its core businesses, as well as further align R&D investment behind key strategic areas," said Belén Garijo, Member of the Executive Board of Merck and CEO Healthcare. “Patients suffering from PKU will continue to benefit from these therapeutic options, as well as from BioMarin’s long-term expertise in rare diseases.”

Merck remains highly committed to the patients in the field of endocrinology, and in particular to advancing the treatment of growth hormone deficient patients with Saizen^®.

Over the past years, Merck has re-aligned its healthcare business with a special focus on developing novel therapies in the areas of neurology, oncology, immuno-oncology and immunology, in addition to maximizing its existing portfolio of drugs in developed countries as well as expanding its footprint in Emerging Markets.

https://www.bionity.com/en/news/154836/merck-agrees-to-return-kuvan-rights-to-biomarin-pharmaceutical.html