PTC Therapeutics completes acquisition of Emflaza for the treatment of Duchenne muscular dystrophy in the U.S.
PTC Therapeutics, Inc. announced it has completed its acquisition of all rights to Emflaza (deflazacort) for the treatment of Duchenne muscular dystrophy (DMD) in the U.S. Execution of the asset purchase agreement setting forth the terms of the acquisition was announced on March 16, 2017.
“We are pleased the acquisition was completed ahead of schedule, following early conclusion of the antitrust review period,” stated Stuart Peltz, Ph.D., chief executive officer, PTC Therapeutics, Inc. “We’ve been engaging with key stakeholders in the DMD community to understand their needs and are working to make Emflaza commercially available as soon as possible. PTC is committed to bringing this important therapy to patients with DMD. Our goal is to enable access for eligible patients irrespective of insurance status, and we look forward to discussing commercial launch details on our upcoming quarterly earnings call.”
Financial terms of the acquisition include a total upfront consideration of $140 million paid to Marathon Pharmaceuticals. Marathon is also entitled to receive payments from PTC based on annual net sales of Emflaza beginning in 2018, which PTC expects will range as a percentage of net sales between the low to mid-20s on a blended average basis. In addition, Marathon has the opportunity to receive a single $50 million sales-based milestone.
(Source: PR Newswire)