ARTICLE | Top Story

Royalty Pharma buys more BG-12 action

January 7, 2014 1:28 AM UTC

Royalty Pharma (New York, N.Y.) paid $510 million in cash to the former shareholders of Fumapharm AG to increase the firm's stake in sales milestones related to multiple sclerosis (MS) drug Tecfidera dimethyl fumarate ( BG-12) and psoriasis drug Fumaderm. The milestones are paid by Biogen Idec Inc. (NASDAQ:BIIB), which acquired Fumapharm in 2006.

Royalty Pharma first acquired an undisclosed stake in the sales milestones for $761 million in May 2012. The firm said it expects the lifetime earn-out rights to all former Fumapharm shareholders to total "north of $4 billion" (see BioCentury, May 7, 2012). ...