Baxter Closes Deal for Potential Hemophilia Drug
From Associated Press (March 21, 2013)
Baxter International Inc. has closed its acquisition of a potential hemophilia treatment from the French drug maker Ipsen and Inspiration Biopharmaceuticals Inc. in a deal that could be worth more than $180 million.
Baxter, based in Deerfield, Ill., had said in January it agreed to buy the drug, labeled OBI-1, and related manufacturing operations.
Ipsen said Thursday that Baxter agreed to pay $50 million upfront, up to $135 million in milestone payments and a percentage of global sales.
OBI-1 is being studied as a possible treatment for people with acquired hemophilia A.
Hemophilia is a rare, inherited disease that affects blood clotting. Some types of hemophilia affect only males, but type A is found in both men and women. Acquired hemophilia is not present from birth and can occur in patients with no family history of hemophilia.
OBI-1 has been designated an orphan drug in the United States and the European Union, meaning it will get years of marketing exclusivity if it is approved. U.S. regulators have also agreed to speed up their review of the drug.
Posted: March 2013