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The Boston Globe

Business

Inspiration Biopharmaceuticals, Ipsen to sell hemophilia drug candidate

Inspiration Biopharmaceuticals, a Cambridge biopharmaceutical company focused on hemophilia, and Ipsen said Thursday that they have agreed to sell a hemophilia drug candidate to Baxter International Inc., a large Illinois-based health care company with specialties in medical devices, pharmaceuticals and biotechnology.

Baxter has agreed to make an upfront payment of $50 million as well as milestone payments totaling $135 million. Inspiration and Ipsen are also eligible to receive annual net sales payments equivalent to a tiered double digit percentage of global net sales. As a result, the aggregate purchase price could exceed $700 million, Inspiration and Ipsen said in a press release.

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