Orphan designation for NPS Pharma's Natpara in Europe

4 January 2014

The European Commission has granted orphan drug designation to US biotech firm NPS Pharmaceuticals (Nasdaq: NPSP) Natpara (recombinant human parathyroid hormone (rhPTH [1-84]) for the treatment of hypoparathyroidism.

The company's shares advanced 2.1% to $32.39 on Friday morning (January 3). The stock has more than tripled over the past 12 months.

“We are very pleased that Natpara has received orphan drug status in the EU,” said Francois Nader, president and chief executive of NPS Pharmaceuticals. “As a global rare disease biopharmaceutical company, this aligns with our commitment to deliver innovative therapies that transform the lives of patients around the world. Hypoparathyroidism patients face a significant burden of disease given the multitude of physical, cognitive, and emotional symptoms associated with this disorder. Natpara could be the first PTH replacement therapy to treat this condition.”

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