Biotech BioMarin Pharmaceutical (BMRN) agreed Monday to pay $680 million in cash for Prosensa Holding, developer of a muscular-dystrophy drug with a checkered history. Prosensa soared 63%, while BioMarin slipped a fraction in early trading in the stock market today. The deal also included two milestone payments of $80 million each if Prosensa’s (RNA) lead drug drisapersen is approved for Duchenne’s muscular dystrophy (DMD) in the U.S. no later
Biotech BioMarin Pharmaceutical (BMRN) agreed Monday to pay $680 million in cash for Prosensa Holding, developer of a muscular-dystrophy drug with a checkered history. Prosensa soared 63%, while BioMarin slipped a fraction in early trading in the stock market today. The deal also included two milestone payments of $80 million each if Prosensa’s (RNA) lead drug drisapersen is approved for Duchenne’s muscular dystrophy (DMD) in the U.S. no later
BioMarin Pharmaceutical (BMRN) stock was up nearly 4% in midday trading on the stock market today, after the biotech won an FDA panel vote and announced a new deal with Myriad Genetics (MYGN). Late Tuesday, an advisory panel to the FDA recommended approving Vimizim, a treatment for a rare genetic disease called Morquio syndrome. The disease, which retards growth and causes skeletal deformities, is currently treated only with palliative measures,