ARTICLE | Finance
Clinical payday
Why BioMarin parted with a Phase III PARP inhibitor
September 7, 2015 7:00 AM UTC
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) took an acquired asset that no longer fits its strategic focus and turned it into a 3x payday by out-licensing the PARP inhibitor talazoparib to Medivation Inc. (NASDAQ:MDVN) for $410 million up front.
Talazoparib came from the 2010 acquisition of Lead Therapeutics Inc., when BioMarin had just two molecules in its clinical pipeline. The rare disease company has paid out at least $29 million under that deal, including $18 million up front and at least $11 million in milestones...