Key Points
- · BioCryst Pharmaceuticals completed the sale of its European ORLADEYO (berotralstat) business to Neopharmed Gentili for $250 million upfront, plus potential future milestones up to $14 million.
- · The transaction improves BioCryst’s operating margin and enhances cash flow generation.
- · This sale aligns with BioCryst's strategic focus on its core U.S. market opportunity.
- · Neopharmed Gentili retains the existing European commercial team for ORLADEYO.
- · BioCryst plans to use the proceeds to retire a $199 million Pharmakon term loan, improving its balance sheet.
- · Despite divesting the European business, BioCryst maintains its 2025 revenue guidance range of $580 million to $600 million.
- · Neopharmed Gentili views the acquisition as a significant step into the rare disease field and international expansion.
- · BioCryst will continue to advance its U.S. ORLADEYO sales and pipeline of small-molecule and protein therapeutics.
What is the nature of BioCryst’s deal with Neopharmed Gentili?
As reported by multiple sources including Charles Gayer, President and Chief Commercial Officer of BioCryst, the company has successfully completed the sale of its European ORLADEYO business to Neopharmed Gentili for an upfront payment of $250 million, subject to customary purchase price adjustments, along with potential additional milestone payments up to $14 million. This deal includes all European assets and rights related to ORLADEYO (berotralstat).
Why did BioCryst sell its European ORLADEYO business?
According to Jon Stonehouse, President and CEO of BioCryst, the transaction is consistent with the company’s strategy to streamline operations and focus on the U.S. market. The sale unlocks significant value, helping BioCryst improve profitability by shedding a lower-margin European segment and allowing the company to concentrate on its core U.S. opportunities and pipeline development.
How will BioCryst use the proceeds from the sale?
BioCryst plans to use the sale proceeds, which notably exceed $250 million upfront, to retire its $199 million Pharmakon term loan. This debt reduction enhances BioCryst’s financial flexibility, improves its operating margin, and positions the company for future strategic growth, including potential acquisitions or increased investment in research and development.
What are the financial and strategic impacts of this sale on BioCryst?
Charlie Gayer stated that the transaction provides an immediate and significant improvement to BioCryst’s operating margin and cash flow generation. Despite no longer including European revenues, BioCryst remains on track to reach the upper half of its 2025 revenue guidance range between $580 million and $600 million. The deal simplifies the company’s business model, improves operational efficiency, and enhances strategic optionality.
How will Neopharmed Gentili manage ORLADEYO in Europe?
Neopharmed Gentili, a rapidly growing Italian pharmaceutical company, will take over commercialization across Europe, retaining the existing European commercial team to ensure a seamless transition for ORLADEYO's operations. Alessandro Del Bono, President and CEO of Neopharmed Gentili, described the acquisition as a strategic move that projects the company onto the international stage and into the rare disease market, further consolidating its position as a leading European specialty pharma company.
What is ORLADEYO, and why is it important?
ORLADEYO (berotralstat) is an oral medication used to prevent attacks of hereditary angioedema (HAE), a rare genetic disorder characterised by recurrent swelling episodes. The drug is a critical part of treatment for patients living with this condition, and BioCryst continues to prioritise its development and sales in the U.S., where it remains the core market for the company.
What other medicines and developments is BioCryst pursuing?
Beyond ORLADEYO, BioCryst is advancing a pipeline of small-molecule and protein therapies, including candidates such as BCX10013, RAPIACTA, and PERAMIFLU. The company is focusing its resources and investments mainly in the U.S. to drive future growth and innovation in rare disease therapeutics.