BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November21, 2017 BioMarin Pharmaceutical Inc., a Delaware corporation (BioMarin), and BioMarin Commercial Ltd., a private limited liability company registered in Ireland and wholly owned subsidiary of BioMarin (together with BioMarin, the Company), entered into a definitive agreement (the Asset Purchase Agreement) to sell a Rare Pediatric Disease Priority Review Voucher (PRV) for a lump sum payment of $125,000,000. The Company received the PRV under a U.S. Food and Drug Administration (FDA) program intended to encourage the development of treatments for rare pediatric diseases. The Company was awarded the PRV in April 2017 when it received approval from the FDA of Brineura® for the treatment of late infantile neuronal ceroid lipofuscinosis type2.
The transactions contemplated by the Asset Purchase Agreement remains subject to customary closing conditions, including the expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Agreement contains customary representations, warranties and covenants.
The foregoing description of the Asset Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Asset Purchase Agreement, which will be filed as an exhibit to the Company’s Annual Report on Form10-K for the fiscal year ending December31, 2017.
| Item 1.01 | Regulation FD Disclosure. |
On November27, 2017, the Company issued a press release to which it announced that it had entered into the Asset Purchase Agreement. A copy of the press release is furnished as Exhibit99.1 hereto.
| Item 1.01 | Financial Statements and Exhibits. |
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ExhibitNo. |
Description |
| 99.1 | Press release dated November27, 2017 |
Forward-Looking Statements
This Current Report on Form8-K contains forward-looking statements, including, but not limited to, statements about the closing of the transactions contemplated by the Asset Purchase Agreement and the Company’s receipt of the payment for the PRV. These forward-looking statements are predictions and involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, but are not limited to, risks and uncertainties related to anti-trust review of the Asset Purchase Agreement and those factors detailed in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the factors contained under the caption “Risk Factors” and elsewhere in the Company’s Securities and Exchange Commission (SEC) filings and reports (Commission File No.000-26727), including the Quarterly Report on Form10-Q for the quarter ended September30, 2017 filed with the SEC on October31, 2017, and future filings and reports by the Company. The Company undertakes no duty or obligation to update any forward-looking statements contained in this Current Report on Form8-K as a result of new information, future events or changes in its expectations.
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BIOMARIN PHARMACEUTICAL INC ExhibitEX-99.1 2 d498905dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Contact: Investors: Media: Traci McCarty Debra Charlesworth BioMarin Pharmaceutical Inc. BioMarin Pharmaceutical Inc. (415) 455-7558 (415) 455-7451 For Immediate Release BioMarin Sells Second Priority Review Voucher for $125 Million SAN RAFAEL,…To view the full exhibit click here
About BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
BioMarin Pharmaceutical Inc. (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Its products in clinical development include Kyndrisa, Pegvaliase, Reveglucosidase alfa, Vosoritide (formerly BMN 111), Cerliponase alfa, BMN 044, BMN 045, BMN 053 and BMN 270. Vimizim is an enzyme replacement therapy for the treatment of mucopolysaccharidosis type IV (MPS IV A). Naglazyme is a recombinant form of N-acetylgalactosamine 4-sulfatase (arylsulfatase B) indicated for patients with mucopolysaccharidosis VI (MPS VI). Kuvan is a synthetic oral form of 6R-BH4 indicated for patients with phenylketonuria (PKU).