Pfizer to Buy Rare-Disease Biotech Therachon for Up to $810 Million
May 08 2019 - 7:30AM
Dow Jones News
By Colin Kellaher
Pfizer Inc. (PFE) on Wednesday said it agreed to buy
clinical-stage biotechnology company Therachon Holding AG for up to
$810 million in a deal that expands the New York drug maker's
rare-disease portfolio.
Pfizer said it will pay $340 million upfront for Therachon,
which has assets in development for the treatment of achondroplasia
and short bowel syndrome.
The deal also includes $470 million in additional milestone
payments based on the development and commercialization of
Therachon TA-46 for achondroplasia, a genetic condition that is the
most common form of short-limbed dwarfism, Pfizer said, adding that
there are currently no approved treatments for achondroplasia.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 08, 2019 07:15 ET (11:15 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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