By Josh Beckerman
NPS Pharmaceuticals Inc. (NPSP) received U.S. Food and Drug
Administration approval for Natpara, a drug that treats a hormone
condition called hypoparathyroidism.
Natpara is a hormonal injection that helps to regulate calcium
levels.
NPS said it expects the drug to be available during the second
quarter.
Earlier this month, Shire PLC (SHPG, SHP.LN) announced a $5.2
billion deal to buy NPS, in Shire's first major deal after AbbVie
Inc.'s (ABBV) attempts to acquire Shire fell apart last
October.
NPS, of Bedminster, N.J., specializes in rare-disease drugs. Its
Gattex injections treat a potentially deadly bowel disorder that
diminishes the body's ability to absorb nutrients and fluids.
Gattex, which costs $376,200 a year, had $67.9 million in sales
during the first nine months of 2014. NPS earned $157.4 million in
total revenue during the period.
The market for rare-disease treatments is considered attractive,
despite a small number of patients, because companies can command
prices in the hundreds of thousands of dollars.
Analysts expect NPS to receive a significant sales boost from
Natpara. Natpara is estimated by Canaccord Genuity to notch almost
$275 million in world-wide sales in 2018.
In October, NPS said the FDA extended the Natpara action date to
January from October. In December, the European Medicines Agency
greenlighted sales of the drug.
Write to Josh Beckerman at josh.beckerman@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires