Nov 15, 2011 08:00 EST ViroPharma Incorporated (NASDAQ: VPHM) today announced that it completed its acquisition of DuoCort Pharma AB. The acquisition further expands ViroPharma’s orphan disease commercial product pipeline. ViroPharma has paid an upfront closing cost of 220 million Swedish kroner (SEK) or $33.6 million in US dollars (USD). Additionally, there are contingent milestone payments of up to 860 million SEK.
Press Release
DuoCort inks deal to sell Plenadren®
Oct 27, 2011 07:33 EDT
Helsingborg, Sweden 27th October 2011– DuoCort AB announces it has signed a definitive agreement to sell DuoCort Pharma AB and its orphan drug Plenadren® to the biopharmaceutical company ViroPharma Incorporated. Plenadren® is a new treatment for adrenal insufficiency, also called Addison´s disease. The total potential deal value exceeds one billion SEK of which 220 million SEK will be paid by ViroPharma on closing.
Plenadren® is the first true innovation in over 50 years in the treatment of adrenal insufficiency. Developed by DuoCort Pharma, Plenadren® is a dual release hydrocortisone replacement therapy designed to better mimic the normal physiological cortisol serum profile, in order to improve outcomes for patients suffering from adrenal insufficiency. In July this year, the European Medicines Agency issued a positive opinion recommending marketing authorization of Plenadren® for the treatment of adrenal insufficiency in adults. A final positive decision by the EU commission is expected this quarter.
On approval of Plenadren®, ViroPharma will acquire DuoCort Pharma AB for an upfront payment of 220 million SEK, and potential additional aggregate consideration of 860 million SEK. Of that, 160 million SEK relates to specific regulatory milestones and the remaining are commercial milestones based on the success of the product. Thus, the deal has a total potential value of over 1 billion SEK to DuoCort AB.
DuoCort Pharma developed Plenadren® over a period of seven years. Clinical trials were performed in collaboration with a number of Swedish University Hospitals. The project was initiated by and has been managed within PULS, a private incubator and financier of early stage life science projects, based in Sweden.
Jacob Kaluski, Chairman of DuoCort AB and DuoCort Pharma AB, says ”We are very pleased that ViroPharma is acquiring DuoCort Pharma and the global product rights for Plenadren®. The product is in good hands with ViroPharma which is an international company committed to providing therapies to patients with serious conditions, who lack effective treatment options. DuoCort is a good example of how a small Swedish company can develop a treatment which has the potential to be world-leading and also give a good return on investment to those who believed in and invested in the development of Plenadren® from the start in 2004”.
Evli Bank, Sweden, were financial advisors to DuoCort AB during the transaction.
About Adrenal insufficiency
Adrenal insufficiency (cortisol deficiency) is a rare, life-threatening disease that affects patients in their active years. To survive, patients suffering from this disease need lifelong replacement therapy with hydrocortisone. Treatment of adrenal insufficiency involves replacing, or substituting, the hormones that the patient’s own adrenal glands are not producing. Cortisol is replaced using hydrocortisone, the synthetic form of cortisol. There are different types of adrenal insufficiency: primary adrenal insufficiency, also called Addison´s disease, secondary adrenal insufficiency and CAH- congenital adrenal hyperplasia.
For further information please contact:
Jacob Kaluski, Chairman
T +46 70 356 56 65 E:jacob.kaluski@duocort.com
Maria Forss, CEO, DuoCort Pharma
T +46 70 967 00 07 E:maria.forss@duocort.com
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- Topics:
- Pharmacy,
- Corporate Information ,
- Economics,
- Research,
- Sales ,
- Mergers and acquisitions ,
- Medicine,
- Medicine, Pharmacepticals,
- Medical research
- Tags:
- treatment,
- orphan status,
- addison´s disease,
- puls,
- duocort,
- duocort pharma,
- plenadren,
- viropharma,
- adrenal insufficiency,
- cortisol,
- aquisition,
- incubator,
- orphan disease,
- dual release,
- ema,
- eu commission
Related press releases
Nov 07, 2011 07:00 EST The Swedish specialty pharma company, DuoCort Pharma, announced today that the European Commission has granted a European Marketing Authorisation for Plenadren® (hydrocortisone, modified release tablet), an orphan drug for treatment of adrenal insufficiency in adults, bringing these patients their first pharmaceutical innovation in over 50 years.
Jul 22, 2011 09:20 EDT The Swedish specialty pharma company, DuoCort Pharma announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued a positive opinion recommending marketing authorisation of its product Plenadren, a novel treatment for adrenal insufficiency.
Apr 28, 2011 01:00 EDT The Swedish specialty pharma company, DuoCort Pharma and UK-based global provider Clinigen, announce that they have concluded an agreement whereby Clinigen will manage a Named Patient Programme for Plenadren, a novel treatment for Addison´s disease. The product has orphan status in Europe and the USA and is currently in the European Union (EU) registration process for marketing authorisation.
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Jun 21, 2010 12:00 EDT DuoCort Pharma´s new physiological treatment for adrenal insufficiency improves patients’ quality of life. The company has also developed methods to optimize the dosage regimen which also contributes to an improvement in therapy over time. The Swedish pharmaceutical company presents this new data from its phase II/III trial at the 92nd annual ENDO congress in San Diego today.
Jun 17, 2010 00:30 EDT The Swedish speciality pharma company DuoCort Pharma takes a step closer to the market by applying for market authorisation in EU for its new treatment for the rare and life threatening disease adrenal insufficiency, often referred to as Addison´s disease.
Jun 29, 2009 00:30 EDT Helsingborg June 29th 2009- DuoCort publishes data from its Phase I study for the rare and life threatening disease adrenal insufficiency. The release profile of DuoCort’s new form of treatment with once-a-day hydrocortisone dosing resembles the physiological secretion pattern. The data is published today in the European Journal of Endocrinology, a leading scientific journal for endocrinology.
Jun 12, 2009 00:00 EDT Helsingborg/ Washington DC June 12th 2009- DuoCort gained promising data from its Phase II/III study for the rare and life threatening disease adrenal insufficiency. DuoCort’s new form of physiological treatment with once daily dosing show improved cardiovascular measures compared to standard hydrocortisone given thrice daily. The company presents the data at the ENDO congress in Washington DC.
Jun 27, 2008 00:30 EDT Helsingborg, Sweden, June 27, 2008 - DuoCort Pharma AB, a privately held Swedish drug development company, today announced that the US Food and Drug Administration (FDA) has granted an Orphan Drug Designation for the company's DuoCortTM hydrocortisone dual-release oral tablet in development for the treatment of adrenal insufficiency
Related videos
Apr 14, 2010 05:38 EDT
DuoCort has developed an improved treatment for patients with adrenal insufficiency, a rare disease for which DuoCort has orphan drug designations in Europe and the USA. The new treatment is a dual release. This means it has an outer layer that immediately releases the drug and an inner core that releases the drug over the day to mimic the body´s own release of cortisol.
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