BioCryst to sell European ORLADEYO business to Neopharmed for $264M

RESEARCH TRIANGLE PARK, N.C. - BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX), which has seen its stock surge over 58% in the past year according to InvestingPro data, has entered into an agreement to sell its European ORLADEYO business to Neopharmed Gentili for up to $264 million, according to a press release statement issued Friday.

The deal includes a $250 million upfront payment and potential future milestone payments of up to $14 million related to sales in Central and Eastern Europe. BioCryst plans to use the proceeds to retire its remaining term debt of $249 million from Pharmakon, eliminating approximately $70 million in future interest payments. The company’s current total debt stands at $829 million, with a current ratio of 2.93x indicating strong short-term liquidity position.

As part of the transaction, Neopharmed Gentili will acquire BioCryst’s European organization, which is expected to result in at least $50 million in annual operating expense savings for BioCryst. The Italian pharmaceutical company will also assume responsibility for all royalties related to European sales.

BioCryst now forecasts it will end 2027 with approximately $700 million in cash and no term debt, representing a $400 million increase from its previous guidance. According to InvestingPro analysis, the company’s financial health is rated as "GOOD," with analysts expecting profitability this year. Get access to 10+ additional exclusive ProTips and comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.

"This transaction is consistent with our strategy of making ORLADEYO available to patients in Europe through the team we built, and it now provides the capital to retire our remaining term debt," said Jon Stonehouse, president and chief executive officer of BioCryst.

For Neopharmed Gentili, the acquisition marks its expansion into the rare disease field and international markets.

The transaction is expected to close by early October. Under the agreement, European ORLADEYO revenues will still be credited to BioCryst in determining global royalty tiers.

BioCryst Pharmaceuticals focuses on developing oral small-molecule and protein therapeutics for rare diseases, with ORLADEYO being its commercialized plasma kallikrein inhibitor for hereditary angioedema. The company has demonstrated strong revenue growth of 41.67% over the last twelve months, with total revenue reaching $503.49 million. Five analysts have recently revised their earnings estimates upward for the upcoming period, suggesting growing confidence in the company’s prospects.

In other recent news, BioCryst Pharmaceuticals has reported new data demonstrating the long-term efficacy and safety of ORLADEYO (berotralstat) for preventing hereditary angioedema (HAE) across various age groups. The studies revealed significant reductions in attack rates and improvements in quality of life for patients. Additionally, Colombia’s National Institute of Drug and Food Surveillance has approved ORLADEYO for patients aged 12 and older, marking the sixth regulatory authorization in Latin America. In the Netherlands, ORLADEYO has been approved for reimbursement, expanding its availability across major European countries. Meanwhile, the U.S. Food and Drug Administration has extended its review period for BioCryst’s pediatric drug application for ORLADEYO, with a new target action date set for December 2025. Furthermore, BioCryst has extended its consulting agreement with former Chief Financial Officer Anthony Doyle to ensure continuity in financial operations. These developments are based on recent press releases from BioCryst Pharmaceuticals.

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