Another FDA Priority Review Voucher sold on

When the US Food and Drug Administration introduced its Rare Pediatric Disease Priority Voucher (PRV) scheme, it was intended to encourage further research. However, since PRVs were also transferable, it seems that many companies preferred to cash them in.

The latest is BioMarin Pharmaceutical (Nasdaq: BMRN), which today announced that it has entered into a definitive agreement to sell the PRV it obtained in April of this year for a lump sum payment of $125 million. However, the company did not reveal the name of the buyer.

This is the second PRV that BioMarin has sold. In July 2014, BioMarin received $67.5 million from Regeneron Pharmaceuticals (Nasdaq: REGN), in exchange for a voucher awarded when it received approval of Vimizim (N-acetylgalactosamine 6-sulfatase) for patients with the rare disease, Mucopolysaccharidosis type IVA, also known as Morquio A syndrome.