After being spurned at the FDA, PTC buys a controversial Duchenne MD therapy from Marathon
After being stung by a fierce backlash over its plans to sell a cheap, old steroid for Duchenne muscular dystrophy for $89,000 a year, Marathon Pharmaceuticals is getting out. The company announced this morning that it is selling deflazacort (Emflaza) to Duchenne MD player PTC Therapeutics $PTCT, which has been struggling to get the FDA to provide a serious review for its own failed drug.
Marathon is getting $140 million in cash and stock in the deal, along with a shot at a one-time $50 million sales bonus on the table and a royalty stream that will account for a low-to-mid 20s percentage of the revenue.
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