Utah People's Post

The Latest News from the Beehive State

Saturday, May 28, 2022
Log in
  • National News
    • Female Caseworker Killed & Doctor Shot in Philadelphia
  • State News
    • Car Chase Leads to Drug Arrest
  • Tech & Science
  • Health
    • How to Prepare For Ticks Season
    • Magical Weight Loss Bean Scam
  • Sports
  • Business
You are here: Home / Health / $3.3 Royalty Buyout of Vertex Pharma Cystic Fibrosis Drug

$3.3 Royalty Buyout of Vertex Pharma Cystic Fibrosis Drug

November 19, 2014 Posted by Staff

cystic fibrosis drugThe well-known investment firm Royalty Pharma has just announced its intention of buying royalties on Vertex Pharmaceuticals Inc.’s cystic fibrosis drug, Kalydeco.

Kalydeco received its Food and Drug Administration approval in January 2012 after being co-developed with the help of the Cystic Fibrosis Foundation. This deal is planned to fund further therapies for the disease, Royal Pharma announced on Wednesday.

When the Cystic Fibrosis Foundation began funding the small biotechnology company, it never expected that its $150 million investment would yield $3.3 billion from selling the rights to the royalties to the cystic fibrosis drug. In fact, this payout might actually be the largest financial return that a charitable organization ever achieved while pursuing treatments for this disease.

Such payouts are believed to also encourage patient advocacy groups the nation over to begin entering deals of their own with pharma companies. Such deals could not only speed up drug development but also provide the potential financial reward which could in turn fund more research.

There is only one concern that might cause nonprofit organizations to consider their options more carefully: these organizations might become accused of drifting away from their initial mission, that of helping patients. They could end up in a conflict of interest firestorm where people might accuse them of having not fought hard enough to lower the price of certain drugs.

This was the case of the Cystic Fibrosis Foundation’s recent investment ($300,000 a year).

“I would like to see them do more to get the price of this drug down to something that is going to be sustainable. And I have some concern about the possible appearance of a conflict.”

Paul M. Quinton, cystic fibrosis researcher said.

On the other hand, chief executive of the Cystic Fibrosis Foundation, Robert J. Beall, announced that the organization had repeatedly expressed concern as to the overall cost of the drug.

“This is a transformational day for people with cystic fibrosis and their families. It gives us an amazing opportunity to accelerate the research we’ve already started.”

Beall said, noting that the organization had no power in setting the price. Beall reminded the public that the foundation’s goal had been that of getting treatments to patients and that he was hopeful that financial returns would help their endeavor.

“If we wanted to get therapies to patients faster, we needed to be partnering with the industry that actually brings those drugs to patients,”

Louis J. DeGennaro, chief executive of the Leukemia & Lymphoma Society said.

Share this:

  • Tweet
  • Share on Tumblr

Filed Under: Health Tagged With: Cystic Fibrosis, Cystic Fibrosis Drug, Cystic Fibrosis foundation, royal pharmaceuticals, royalties bought from vertex pharma, vertex pharmaceuticals, vertex pharmaceuticals royalties

Woman working out at the gym

Just 23% of Americans Are Working Out Enough in Their Spare Time

June 29, 2018 By Amelia Donovan

Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)

June 29, 2018 By Amelia Donovan

United Airlines airplane

Passenger Mysteriously Dies on United Airlines flight Bound for Boston

June 28, 2018 By Amelia Donovan

Breakfast sandwich

Here Are Some Foods No Nutritionist Would Ever Eat

June 27, 2018 By Amelia Donovan

Poppy flower

UN Warns of Surge in Opium-based Drugs and Cocaine Supply

June 27, 2018 By Amelia Donovan

U.S.-Canada border

French Jogger Detained 2 Weeks for Accidentally Crossing Border

June 26, 2018 By Amelia Donovan

Plus size model

Normalizing Plus Size Could Fuel Obesity Crisis (Study)

June 25, 2018 By Amelia Donovan

Giant manta ray

Unique Manta Ray Nursery Spotted off Texas Coast

June 23, 2018 By Amelia Donovan

The rainbow flag

WHO Scraps Transgenderism from List of Mental Illnesses

June 22, 2018 By Amelia Donovan

456 People Dead at U.K. Hospital after Taking too Many Painkillers

June 21, 2018 By Amelia Donovan

Kenyan girls dancing

Kenyans Facing Poor Nutrition as Supermarket Shopping Is on the Rise

June 20, 2018 By Amelia Donovan

Pages

  • About
  • Contact
  • Privacy Policy GDPR
  • Staff
  • Terms and Conditions

Recent Posts

  • Just 23% of Americans Are Working Out Enough in Their Spare Time
  • Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)
  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston
  • Here Are Some Foods No Nutritionist Would Ever Eat
  • UN Warns of Surge in Opium-based Drugs and Cocaine Supply
  • French Jogger Detained 2 Weeks for Accidentally Crossing Border
  • Normalizing Plus Size Could Fuel Obesity Crisis (Study)

Related Articles

  • Woman working out at the gym

    Just 23% of Americans Are Working Out Enough in Their Spare Time

    Jun 29, 2018
  • Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)

    Jun 29, 2018
  • Breakfast sandwich

    Here Are Some Foods No Nutritionist Would Ever Eat

    Jun 27, 2018
  • Normalizing Plus Size Could Fuel Obesity Crisis (Study)

    Jun 25, 2018
  • The rainbow flag

    WHO Scraps Transgenderism from List of Mental Illnesses

    Jun 22, 2018
  • 456 People Dead at U.K. Hospital after Taking too Many Painkillers

    Jun 21, 2018
  • Young woman affected by depression

    If You Have PTSD You Were Likely Abused as a Child

    Jun 19, 2018
  • Obese dog on a leash

    Obese Dogs Can Help Us Better Understand How Obesity Works

    Jun 18, 2018
  • Our Brains Are Craving Combinations of Fats and Carbs (Study)

    Jun 15, 2018
  • Hungry bird with beck open

    Scientists Explain Why We Get ‘Hangry’

    Jun 13, 2018

Categories

  • Business
  • Entertainment
  • Health
  • National News
  • Nature
  • Provo
  • Salt Lake News
  • Science
  • Sports
  • State News
  • Tech & Science
  • Technology
  • Uncategorized
  • West Jordan
  • West Valley City
  • World

Copyright © 2022 utahpeoplespost.com

About · Privacy Policy · Terms of Use · Site Map · Contact