Pfizer Forges Potential $4.2 Billion Deal to Distribute Myovant Sciences’ Orgovyx
Pfizer is expanding further into oncology thanks to a deal with Myovant Sciences, under which the two companies will cooperate on developing and commercializing Myovant’s newly approved prostate cancer drug Orgovyx (relugolix). Myovant will receive up to $4.2 billion, including an upfront payment of $650 million.
The FDA approved Orgovyx for advanced prostate cancer on Dec. 18. Administered once daily, it is an oral gonadotropin-releasing hormone (GnRH) receptor antagonist that the two companies intend to further develop for oncology and women’s health indications, such as uterine fibroids and endometriosis, in the U.S. and Canada.
Pfizer is also getting an exclusive option to commercialize relugolix in oncology outside the U.S. and Canada, excluding certain Asian countries that are not named in the companies’ Dec. 28 joint statement.