RESEARCH TRIANGLE PARK, N.C.,
Jan. 24, 2019 /PRNewswire/
-- United Therapeutics Corporation (Nasdaq: UTHR) today
announced the closing of the transactions contemplated by its
license agreement with Arena Pharmaceuticals, Inc. (Nasdaq: ARNA).
Under the agreement, United Therapeutics acquired exclusive,
worldwide rights to develop and manufacture the Phase 3
investigational drug candidate ralinepag, a next-generation, oral,
selective and potent prostacyclin receptor agonist in development
for the treatment of pulmonary arterial hypertension (PAH).
Upon closing, United Therapeutics paid Arena $800 million. Arena is also entitled to potential
milestone payments of up to $400
million based on the achievement of certain regulatory
events as well as low double-digit tiered royalties on annual net
sales of ralinepag products.
As previously announced, the closing of the transactions
contemplated by the agreement was conditioned upon expiration or
termination of the required waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act, among other
conditions. The requisite waiting period expired on January
22, 2019, and closing occurred on January
24, 2019.
About United Therapeutics
United Therapeutics Corporation focuses on the strength of a
balanced, value-creating biotechnology model. We are confident in
our future thanks to our fundamental attributes, namely our
obsession with quality and innovation, the power of our brands, our
entrepreneurial culture and our bioinformatics leadership. We also
believe that our determination to be responsible citizens – having
a positive impact on patients, the environment and society – will
sustain our success in the long term.
Through our wholly-owned subsidiary, Lung Biotechnology PBC, we
are focused on addressing the acute national shortage of
transplantable lungs and other organs with a variety of
technologies that either delay the need for such organs or expand
the supply. Lung Biotechnology is the first public benefit
corporation subsidiary of a public biotechnology or pharmaceutical
company. [uthr-g]
Forward-Looking Statements
Statements included in this press release that are not
historical in nature are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
including, but not limited to, statements related to future
milestone and royalty payments to Arena, and the achievement of net
sales of ralinepag. Forward-looking statements are based on the
beliefs of our management team, as well as assumptions made by, and
information currently available to us. Because such statements are
based on expectations as to future events and results and are not
statements of fact, actual events and results may differ materially
from those projected depending on a number of factors. Such
forward-looking statements are qualified by the cautionary
statements, cautionary language and risk factors set forth in our
periodic reports and documents filed with the Securities and
Exchange Commission, including our most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. We claim the protection of the safe harbor contained in
the Private Securities Litigation Reform Act of 1995 for
forward-looking statements. We are providing this information as of
January 24, 2019 and assume no
obligation to update or revise the information contained in this
press release whether as a result of new information, future events
or any other reason.
View original
content:http://www.prnewswire.com/news-releases/united-therapeutics-announces-closing-of-license-agreement-with-arena-pharmaceuticals-for-ralinepag-300784116.html
SOURCE United Therapeutics Corporation