BioMarin Pharmaceutical (BMRN) Announces Orapred ODT is Now Commercially Available in U.S., Company Receives $4 Million Milestone Payment

August 28, 2006 7:21 AM EDT

BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) announced that Orapred ODT, the first FDA-approved orally disintegrating tablet form of prednisolone, is now commercially available in the United States. The Orapred product line, which includes Orapred ODT and Orapred is marketed by Alliant Pharmaceuticals, Inc., pursuant to a North American license and acquisition agreement entered into on March 15, 2006.

Orapred is prescribed primarily for acute exacerbations of asthma in children, and is also used to control severe, persistent asthma and to reduce inflammation seen in numerous medical conditions including arthritis and cancer.

Under the terms of the agreement, BioMarin has received a $4 million milestone payment in association with product launch and will receive a final $4 million milestone payment on June 1, 2007, the one year anniversary of the approval of Orapred ODT. Additionally, BioMarin will receive royalties on Orapred products sales. BioMarin will retain commercial rights to the Orapred product line outside of North America.

Related Categories

FDA

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?