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Concordia Healthcare Corp.
Drug Names(s): prednisolone sodium phosphate
Description: Orapred ODT is an orally-disintegrating formulation of Orapred. Orapred is Prednisolone, a synthetic corticosteroid. The mechanism of Orapred is like other corticosteroids in acting as an antiinflammatory agent. Corticosteroids act via the glucorticosteroid receptors present on the cell surface and in the cytoplasm of immune cells to affect transcription of various genes that are crucial for inflammation. Therefore, corticosteroids suppress the immune response.
Deal Structure: In April 2004, BioMarin purchaed Orapred from Medicis Pharmaceuticals BioMarin will pay Medicis $10 million in cash. Over the next five years, BioMarin will make payments to Medicis totaling $145 million in cash and $20 million in stock (based on the stock price at the payment due date in 2009, payable with the final payment in 2009). The transaction price is $175 million ($155 million in cash and $20 million in stock) and will include payments at the following intervals: at close: $10 million; in 2004: $25 million; in 2005: $30 million; in 2006: $9 million; in 2007: $8 million; in 2009: $85.9 million (includes $20 million in BMRN stock priced at closing). In addition, BMRN will assume $15 million in Medicis liabilities, bring the total deal to a purchase price of $190 million over the next 5-years.
In March 2006, BioMarin and Alliant Pharmaceuticals announced that they have entered into a licensing and acquisition agreement pertaining to exclusive North American rights to the...See full deal structure in Biomedtracker
Partners: Shionogi & Co. Ltd.
Orapred ODT News
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