NPS Hormone Drug Gets FDA Approval

   By Josh Beckerman 
 

NPS Pharmaceuticals Inc. (NPSP) received U.S. Food and Drug Administration approval for Natpara, a drug that treats a hormone condition called hypoparathyroidism.

Natpara is a hormonal injection that helps to regulate calcium levels.

NPS said it expects the drug to be available during the second quarter.

Earlier this month, Shire PLC (SHPG, SHP.LN) announced a $5.2 billion deal to buy NPS, in Shire's first major deal after AbbVie Inc.'s (ABBV) attempts to acquire Shire fell apart last October.

NPS, of Bedminster, N.J., specializes in rare-disease drugs. Its Gattex injections treat a potentially deadly bowel disorder that diminishes the body's ability to absorb nutrients and fluids.

Gattex, which costs $376,200 a year, had $67.9 million in sales during the first nine months of 2014. NPS earned $157.4 million in total revenue during the period.

The market for rare-disease treatments is considered attractive, despite a small number of patients, because companies can command prices in the hundreds of thousands of dollars.

Analysts expect NPS to receive a significant sales boost from Natpara. Natpara is estimated by Canaccord Genuity to notch almost $275 million in world-wide sales in 2018.

In October, NPS said the FDA extended the Natpara action date to January from October. In December, the European Medicines Agency greenlighted sales of the drug.

Write to Josh Beckerman at [e-mail]

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