Raptor buys lung infection drug for an initial $68.4 million to expand rare disease drug portfolio

21 August 2015

Raptor Pharmaceutical (Nasdaq: RPTP) said it has agreed to buy Tripex Pharma’s Quinsair (levofloxacin) to treat chronic lung infections for an upfront payment of $68.4 million in a bid to expand its portfolio of rare disease drugs.

Julie Anne Smith, chief executive of Raptor, said: "This acquisition expands our portfolio and leverages both our commercial and development expertise in rare diseases. By acquiring Quinsair prior to its launch, we will be able to exclusively shape its commercial strategy and potential in cystic fibrosis and other rare diseases."

The drugmaker said under the terms of the deal, it will also pay up to $34.2 million Raptor shares as well as contingent payments of up to $350 million. The company has also acquired exclusive global rights and assets to develop, manufacture and commercialize Quinsair.

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