Hyperion Therapeutics, Inc.
) recently acquired global rights to Buphenyl tablets and powder
from Ucyclyd Pharma Inc., a subsidiary of
Buphenyl is approved by the US Food and Drug Administration
(FDA) to treat urea cycle disorders (UCD).
As per the restated collaboration agreement with Ucyclyd,
entered into in Mar 2012, Hyperion was given an option to
purchase all of Ucyclyd's worldwide rights to Buphenyl and
Ammonul. A net amount of $11 million was paid to Hyperion; this
reflects $32 million due to Hyperion on account of Ucyclyd
retaining its rights to Ammonul, $19 million due to Ucyclyd for
the purchase of rights to Buphenyl and a $2 million inventory
adjustment due to Ucyclyd.
Last year, Hyperion had acquired worldwide rights to another
drug, Ravicti, from Ucyclyd for an upfront payment of $6 million,
future payments based upon the achievement of regulatory
milestones in indications other than UCD, sales milestones, and
mid-to-high single-digit royalties on global net sales of
Ravicti received FDA approval in Feb 2013 for the use as a
nitrogen-binding agent for chronic management of adult and
pediatric UCD patients more than two years of age who cannot be
managed by dietary protein restriction and/or amino acid
supplementation alone. Ravicti completed a phase II study for the
treatment of hepatic encephalopathy (HE) in Apr 2012.
Hyperion currently carries a Zacks Rank #3 (Hold).Currently,
) look well positioned with a Zacks Rank #1 (Strong Buy).
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