Myovant Sciences Ltd (MYOV)

[MDizzle]

Myovant Sciences, Pfizer to Develop, Commercialize Relugolix



7:03 AM ET 12/28/20 | Dow Jones

By Colin Kellaher


Myovant Sciences Ltd. on Monday said it would collaborate with Pfizer Inc. to develop and commercialize relugolix in oncology and women's health in the U.S. and Canada in a deal potentially worth more than $4 billion to Myovant.

The companies plan to jointly develop and commercialize Orgovxy (relugolix) in advanced prostate cancer and, if approved, a relugolix combination tablet for women's health in the U.S. and Canada.

Myovant and Pfizer would equally share profits and certain expenses for Orgovxy and the relugolix combination tablet, with Myovant recording revenue, the company said.

Myovant said it would receive up to $4.2 billion under the deal, including an upfront payment of $650 million, $200 million in potential regulatory milestones for U.S. Food and Drug Administration approvals for the relugolix combination tablet, and tiered sales milestones.

Myovant said it would receive $50 million and be entitled to double-digit royalties on sales if Pfizer exercises an option to commercialize relugolix in oncology outside of the U.S. and Canada, excluding certain Asian countries.