Horizon to acquire worldwide rights to Boehringer Ingelheim genetic disease drug
pharmafile | May 20, 2016 | News story | Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | Boehringer Ingelheim, actimmune, agreement, horizon, interferon gamma-1b, worldwide rights
Horizon Pharmaceuticals (NASDAQ: HZNP) has entered into a worldwide rights agreement with Boehringer Ingelheim to acquire interferon gamma-1b, which is marketed under the trade names Imukin, Imukine, Immukin and Immukine in an estimated 30 countries across Europe and the Middle East.
This drug is intended for patients in a variety of different genetic illnesses, including severe, malignant osteoporosis and chronic granulmatous disease. Horizon already licenses interferon gamme-1b as Actimmune in the US, Canada and Japan.
Horizon has agreed to pay €5 million upon the signing of the agreement and will pay €20 million upon closing for the rights for interferon gamma-1b in all territories outside of the US, Canada and Japan. The pair expect to close the transaction by year end-2016, subject to the satisfaction of closing conditions.
Under the terms of a separate agreement, Horizon has also licenced the US, European and Canadian intellectual property rights for interferon gamme-1b for the treatment of Friedreich’s ataxia. Top-line results from a Phase III clinical trial evaluating 90 patients with the disease are expected by the end of 2016.
Timothy Walbert, CEO at Horizon, says: “Obtaining worldwide rights for interferon gamma-1b solidifies our continued investment in the medicine and pending the outcome of clinical studies investigating it in Friedreich’s ataxia and advanced solid tumours, such as kidney and bladder cancer, strengthens our ability to expand its potential global use.”
As a result of Horizon’s immediate investment in related manufacturing, supply chain, regulatory and commercial activities for interferon gamma-1b, the company expects a reduction to 2016 adjusted EBITDA of approximately $10 million versus previous guidance.
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