Biotech, Partnering

Protalix biotech deals Ministry of Health Brazil for $280 million Gaucher disease treatment

Posted on 25 June 2013

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Shares of Protalix BioTherapeutics jumped in premarket trading after the drug developer announced biotech deals that require the Brazilian government to buy at least $280 million of the company's Gaucher disease treatment.

The Israeli company said an arm of the Brazilian Ministry of Health has committed to buying at least $40 million of the drug annually, as part of the biotech deals, during the seven-year agreement for Uplyso, which is marketed as Elelyso in the United States and Israel.

During the biotech deals agreement, Protalix will transfer the technology needed for the Brazilian government to build at its own expense a factory to make a sustainable supply of Uplyso.

Protalix doesn't have to complete the final stage of its technology transfer until the government has made at least $280 million in Uplyso purchases, as per the terms of the biotech deals.

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