Value of Priority Review Vouchers Falls on Latest Sale

August 2, 2018

Rare Daily Staff

Ultragenyx and Kyowa Hakko Kirin sold their Priority Review Voucher from the approval of Crysvita, their treatment for the rare bone disorder X–linked hypophosphatemia, for $80.6 million to an undisclosed buyer, according to a report in BioCentury.

The sale represents a continued drop in the value of PRVs as the U.S. Food and Drug Administration has issued more of them.

The FDA grants Rare Pediatric Disease Priority Review Vouchers as a way to encourage the development of treatments for rare pediatric diseases. The vouchers are transferable and can be used to accelerate the review of large market therapeutics. The priority review voucher entitles the holder to priority review of a single New Drug Application or Biologics License Application. The use of the voucher reduces the expected review time from ten months to six months.

In addition to awarding priority review vouchers for rare pediatric disease therapies, the FDA also awards the vouchers to qualified tropical disease therapies.

The latest sale continues a pattern of falling prices for the vouchers since AbbVie paid United Therapeutics $350 million for a PRV in 2015. In 2017, BioMarin and Sarepta each sold a PRV for $125 million and Ultragenyx sold one for $130 million. This year, Spark Therapeutics sold its PRV for $110 million.

August 2, 2018

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