AbbVie spends $350 million on priority review voucher

19 August 2015

US biotech firm United Therapeutics (Nasdaq: UTHR) has entered into an agreement to sell its Rare Pediatric Disease Priority Review Voucher (PPRV) to a subsidiary of fellow USA-based AbbVie (NYSE: ABBV).

United Therapeutics received the PPRV when Unituxin (dinutuximab) was approved by the US Food and Drug Administration for the treatment of neuroblastoma, a rare pediatric disease (The Pharma Letter March 10).

On closing of the transaction, United Therapeutics will receive $350 million in cash in exchange for the PPRV. The voucher was awarded by the FDA under a provision that encourages development of new drugs and biologics for the prevention and treatment of rare pediatric diseases. AbbVie did not reveal how it plans to use the voucher.

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