Get our latest issue now

available for iOS, Android & web

latest issue

Baxter buys Ipsen/Inspiration haemophilia A drug

Daily News | January 25, 2013

Kevin Grogan

Baxter buys Ipsen/Inspiration haemophilia A drug

France's Ipsen and its bankrupt partner Inspiration Biopharmaceuticals have sold the rights to an investigational haemophilia drug and related assets to Baxter International in a deal valued at around $185 million.

Baxter is acquiring OBI-1, a recombinant porcine factor VIII therapy for haemophilia A, and Ipsen's manufacturing facility in Milford, near Boston, USA. Cashwise, it will pay $50 million upfront and up to $135 million in development and commercial milestones, plus tiered net sales payments ranging from 12.5%-17.5% of OBI-1's annual sales.

OBI-1 is currently in Phase III and has orphan drug designation in the USA and Europe, It was recently granted fast-track designation for acquired hemophilia A by the Food and Drug Administration.

The transaction is subject to court and regulatory approvals as Inspiration filed for Chapter 11 bankruptcy in October last year. As the US firm’s only senior secured creditor, Ipsen will receive 60% of the upfront payments and 80% of all sums up to a value of $304 million and 50% of all proceeds thereafter.

Ipsen and Inspiration are also looking to sell off IB1001 - a recombinant factor IX for the treatment and prevention of bleeding in patients with haemophilia B. That process is in "the final bidding stage".

Meantime Baxter has posted its financials for the fourth quarter which show that net income rose 6.7% to $494 million. Sales were up 4.4% to $3.75 billion.

Click here to order a reprint of this news story.


Your Comments

Tell us what you think.

Twitter Go to @PharmaTimes

Find a job

Website Search

Search News Search Magazine

Business Insight


Competitions News


International Clinical Researcher of the Year 2016

Book your tickets today!