News: Retrophin sold Priority Review Voucher to Sanofi $RTRX

Retrophin, Inc. has announced the closing of the agreement to sell its Rare Pediatric Disease Priority Review Voucher to Sanofi Under the terms of the agreement, Retrophin has received a payment of $150 million, and will receive two additional payments of $47.5 million in 2016 and 2017.

Retrophin also announced the prepayment of its $45 million credit facility due 2018, issued on June 30, 2014. The Company made a $47.3 million payment in full for all principal, accrued interest, and prepayment premium, as required by the terms of the credit agreement.

“Closing the sale of the voucher significantly strengthens our balance sheet”, said Stephen Aselage, Chief Executive Officer of Retrophin. “The additional cash and prepayment of our high-interest credit facility provide Retrophin with considerable operational flexibility to devote resources to the progression of our pipeline and the pursuit of additional rare disease assets.”

View the full release here.