Ultragenyx (NASDAQ:RARE) inks an agreement with Royalty Pharma, agreeing to sell its royalty right in Europe from Kyowa Kirin Co., Ltd. from net sales of Crysvita (burosumab) for $320M.
The deal will automatically expire when Royalty Pharma receives payments equal to or greater than 1.9x the purchase price prior to December 31, 2030, or in the event aggregate payments are equal to or greater than 2.5x the purchase price if the prior threshold is not met by the end of 2030.
Crysvita is conditionally approved in the EU for X-linked hypophosphatemia (XLH) with radiographic evidence of bone disease in children 1 year of age and older and adolescents with growing skeletons. An application for use in adults with XLH is currently under EMA review.
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