Royalty Pharma bets an extra half billion on MS candidate

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Royalty Pharma has acquired more rights to Biogen's multiple sclerosis treatment, dimethyl fumarate (Tecfidera).

Royalty announced a payment of 510 million US dollars for the indirect interest in the drug's sales, paying for the earn-out with cash to former shareholders of Fumapharm AG.

It follows similar payments in May 2012, of 761 million dollars, Royalty said in a statement.

"The Fumapharm earn-out primarily represents an indirect interest in sales of Biogen Idec's Tecfidera (dimethyl fumarate), an oral therapeutic for the treatment of relapsing-forms of multiple sclerosis.

"The earn-out also includes an indirect interest in sales of Fumaderm, a therapeutic approved in Germany for the treatment of moderate to severe plaque psoriasis."

Alexander v. Perfall, vice-president, investor relations and public affairs, Royalty Pharma.