United Therapeutics To Sell Rare Pediatric Disease Priority Voucher To Abb Vie

(RTTNews) - Biotechnology company United Therapeutics Corp. (UTHR) Wednesday announced an agreement to sell its Rare Pediatric Disease Priority Review Voucher or PPRV to a subsidiary of AbbVie Inc. (ABBV) in a deal worth $350 million in cash. United Therapeutics received the PPRV when Unitux was approved by the FDA for the treatment of neuroblastoma, a rare pediatric disease.

Roger Jeffs, president and Co-CEO of United Therapeutics said, "We are very pleased to monetize our PPRV, and hope that this transaction will encourage others to join us in focusing development efforts on rare pediatric diseases."