U.S. Markets closed

Hyperion Therapeutics completes acquisition of Buphenyl from Valeant

Hyperion Therapeutics (HPTX) disclosed in a regulatory filing that on May 31, the company completed its acquisition of Buphenyl Tablets and Powder, from Ucyclyd Pharma, a subsidiary of Valeant Pharmaceuticals (VRX). The vompany received a net payment of $11M from Ucyclyd at closing, which represents the $19M purchase price for Buphenyl due to Ucyclyd and a $32M payment due to the company as a result of Ucyclyd ’s exercise of its option to retain Ammonul Injection 10%/10%, less costs of approximately $2M in finished goods and active pharmaceutical ingredient due to Ucyclyd. The company is obligated to pay subsequent milestone and royalty payments to Ucyclyd.