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March 16 (Reuters) - PTC Therapeutics Inc said on Thursday that it would buy the rights to Marathon Pharmaceuticals Llc’s controversial Duchenne muscular dystrophy drug, Emflaza, for $140 million upfront.
The U.S. Food and Drug Administration in February approved the steroid for the devastating muscle-wasting disease that mainly affects young boys. The drug has been available outside the United States for decades.
Northbrook, Illinois-based Marathon has come under fire after saying the drug would carry a list price of $89,000 per year.
PTC said it expects the deal to close in the second quarter. (Reporting by Natalie Grover in Bengaluru; Editing by Savio D‘Souza)