BioMarin Pharmaceutical Inc. is selling a rare pediatric disease priority review voucher it received in April from the U.S. Food and Drug Administration for a lump sum payment of $125 million.
The company received the voucher after the approval of Brineura, a new biological product for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease.
The U.S. FDA awards the vouchers to rare pediatric disease product applicants that meet certain criteria. The voucher can be redeemed to receive a priority review of a subsequent marketing application for a different product.
BioMarin sold a priority review voucher to Regeneron Pharmaceuticals Inc. for $67.5 million in July 2014. The U.S. FDA awarded the voucher to BioMarin with the approval of Vimizim, for the treatment of Morquio A syndrome.
