URL Pharma’s $800 million deal is all about gout
Wow. I didn't know that there was that kind of wealth in Juniata Park.
"Renamed URL Pharma Inc. in 2008, the company is probably unfamiliar to anyone who doesn’t have gout or doesn’t treat some of the more than eight million Americans diagnosed with the painful disease. That’s because its brand-name Colcrys drug costs far more today than the 9 cents per dose that the longtime remedy, called colchicine, once did.
Call it an unintended consequence of a program by the Food and Drug Administration to encourage clinical trials of medicines that predated federal regulation for safety and effectiveness. URL Pharma was the only drug company to seek approval for colchicine under the Unapproved Drug Initiative.
After its Colcrys received the FDA’s OK in 2009 and three years of market exclusivity, URL Pharma raised the price to about $5 per pill, causing a furor in the medical community as the company’s revenue and profit swelled.
Such success attracted Takeda Pharmaceutical Co. Ltd., Japan’s largest drug company, which agreed to buy URL Pharma this week for $800 million, with more possible, based on certain goals.
Takeda, whose U.S. base is in Deerfield, Ill., clearly wanted URL Pharma for Colcrys, which generated net sales of more than $430 million in 2011. Takeda has its own gout medicine, called Uloric, with sales of $106 million for the 12 months ended March 31, 2011."
It sounds like the Japanese paid a tremendous amount of money for one drug. Will this family be able to continue pulling the rabbit out of the hat? I'm sure there are pleny of other orphan drugs which need to have their status formalized by the FDA.
Why haven't I heard more about this? It's a crazy story, with big $$ attached to it. Talk about found money.
Read more: http://www.philly.com/philly/columni...#ixzz1s8lxCm8G
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