Israel-based Protalix Biotherapeutics (NYSE:[[ticker:PLX]]) said today it has struck a deal with drug giant Pfizer to develop and market Protalix’s experimental Gaucher’s disease drug, taliglucerase alfa. The drug, which the FDA has granted a fast-track process for potential approval, poses a threat to Cambridge, MA-based biotech Genzyme’s (NASDAQ:[[ticker:GENZ]]) market-leading Gaucher’s treatment, imiglucerase (Cerezyme), which has faced shortages due to manufacturing delays. New York-based Pfizer (NYSE:[[ticker:PFE]]) has agreed to pay Protalix an upfront payment of $60 million and milestone fees of up to $55 million for worldwide marketing rights to its Gaucher’s drug.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
View all posts by Ryan McBride
