CAMBRIDGE, Mass. (AP) - Biotechnology company Genzyme Corp. said Thursday it received approval to market its drug Elaprase in Japan for the treatment of Hunter syndrome, a life-threatening genetic condition.
Elaprase is designed to treat the underlying cause of Hunter syndrome by replacing the so-called iduronate-2-sulfatase enzyme, which is deficient or absent in people with this disease.
Genzyme said it plans to launch Elaprase this quarter, following reimbursement approval.
Shire Human Genetic Therapies Inc., a subsidiary of British drug maker Shire PLC, develops Elaprase, while Cambridge, Mass.-based Genzyme sells the product in Japan and other Asia-Pacific countries under an agreement with Shire.
Under the deal with Shire, Genzyme will record product sales in the region and allocate about one-third of net sales to Shire. Genzyme said it will pay $3 million to Shire in recognition of Japanese marketing approval, and will make a $4 million milestone payment upon reimbursement approval.
Shares of Genzyme rose 7 cents to close at $67.85.
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