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Protalix BioTherapeutics, Inc. (PLX) Message Board

  • andre6677 andre6677 Jun 19, 2013 3:49 AM Flag

    Protalix BioTherapeutics and Brazil's Ministry of Health Enter Into Supply and Technology Transfer Agreement for UPLYSO(TM) (alfataliglicerase) in Brazil

    Protalix BioTherapeutics and Brazil's Ministry of Health Enter Into Supply and Technology Transfer Agreement for UPLYSO(TM) (alfataliglicerase) in Brazil
    Exclusive License and Supply Agreement With Pfizer Amended to Facilitate the Technology Transfer

    Press Release: Protalix BioTherapeutics, Inc. – 1 hour 46 minutes ago

    CARMIEL, Israel, June 19, 2013 (GLOBE NEWSWIRE) -- Protalix BioTherapeutics, Inc. (PLX.TA) (PLX.TA), announced today that it has entered into a supply and technology transfer agreement with Fundacao Oswaldo Cruz (commonly referred to as Fiocruz), an arm of the Brazilian Ministry of Health for UPLYSO(TM) (alfataliglicerase), the Company's proprietary enzyme replacement therapy for the treatment of Gaucher disease. Gaucher disease is a rare lysosomal storage disorder that affects approximately 10,000 people worldwide.
    The technology transfer is expected to take place during a seven-year term and is intended to transfer to Fiocruz the capacity and skills required for the Brazilian government to construct its own manufacturing facility, at its sole expense, and to produce a sustainable, high quality, and cost effective supply of UPLYSO. Under the agreement, Fiocruz has committed to purchase at least approximately US$40 million worth of UPLYSO during the first two years of the agreement. In subsequent years, Fiocruz is required to purchase at least approximately US$40 million worth of UPLYSO per year. Additionally, Protalix is not required to complete the final stage of the technology transfer until Fiocruz purchases at least approximately US$280 million worth of UPLYSO. The agreement may be extended for an additional five-year term, as needed, to complete the technology transfer. All of the terms of the arrangement, including the minimum annual purchases, will apply during the additional term.
    ..........

    Sentiment: Strong Buy

 
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