Cheshire drug maker Alexion Pharmaceuticals Inc. could wind up paying more than triple the $111 million initially spent to acquire Colorado biotech Taligen Therapeutics if certain milestones are met, a regulatory filing says.
Alexion agreed to shell out as much as $367 million if six products in Taligen’s development pipeline achieve clinical and commercial success, according to Alexion’s 8-K filing with the Securities and Exchange Commission.
Alexion announced Jan. 31 its purchase of the once privately held firm Taligen, based in Aurora, Colo., to expand its own product portfolio. Taligen is developing potential treatments for people with age-related illnesses associated with the eye.
Alexion is scheduled to provide its 2011 financial outlook later this month, including deal-related expenses.
Alexion’s sole product, Soliris, treats a genetic blood disease called paroxysmal nocturnal hemoglobinuria, or PNH.
