Printed in January 2021 Issue
Myovant Sciences’ stock rocketed 22% on news it was partnering with Pfizer to develop and commercialize relugolix for prostate cancer and women’s health.
Relugolix is a once-daily, oral gonadotropin-release hormone (GnRH) receptor antagonist. The two companies are collaborating in the U.S. and Canada, with Pfizer receiving an exclusive option to develop the drug in oncology outside those two markets except in certain Asian countries.
They will jointly develop and commercialize the drug, under the brand name Orgovyx, in advanced prostate cancer, and if approved, in combination with estradiol 1.0 mg and norethindrone acetate (0.5 mg) in women’s health in the U.S. and Canada. They will begin co-promoting Orgovyx for prostate cancer in early 2021. The two companies will split profits and certain expenses for Orgovyx and the relugolix combination. Myovant will handle regulatory interactions and drug supply, and lead on developing the relugolix combination program.
Pfizer is paying Myovant up to $4.2 billion, including an upfront payment of $650 million and $200 million in potential regulatory milestones, and tiered sales milestones up to $2.5 billion for prostate cancer and for the combined women’s health indications. If Pfizer chooses to exercise the option in oncology outside the U.S. and Canada, it will pay Myovant another $50 million and double-digit sales royalties.