Myovant Sciences (NYSE:MYOV) Enters Collaboration With Pfizer Inc. (NYSE:PFE) for Development and Commercialization of ORGOVYX™

Myovant Sciences (NYSE:MYOV) has announced a collaboration with Pfizer Inc. (NYSE:PFE) for the development and commercialization of relugolix (ORGOVYX) in women’s health and oncology in North America.

Pfizer to co-commercialize relugolix with Myovant

Following the collaboration, Pfizer has received exclusive commercialization options to relugolix in oncology outside Canada and the US excluding some Asian countries. Lynn Seely, Myovant Sciences’ CEO said that they are delighted to partner with Pfizer in unlocking relugolix’s full potential in advanced prostate cancers and as a combination treatment in endometriosis and uterine fibroids. Seely said that this will help advance the company’s mission of redefining men and women care. The CEO added that Pfizer will be an ideal partner considering its impressive track record and capabilities in women’s health and oncology. Seely further indicated that the transformative partnership will boost the expected launch of ORGOVYX and its potential launch as a combination treatment in women’s health. Equally the collaboration will boost Myovant’s financial position thus helping the company in expanding its pipeline of new treatments.

According to the terms of the agreement, the companies will co-develop and commercialize relugolix in advanced prostate cancer and the relugolix combination tablet once approved on Women’s health in North America. The companies are planning to start co-promoting ORGOVYX in early next year. Pfizer and Myovant will share profits and some expenses for ORGOVYX and the relugolix combination tablets and Myovant will be responsible for recording revenues.Most importantly, Myovant will be in charge of regulatory interactions, drug supply, and continue advancing the development of relugolix combination tablet.

Pfizer to pay Myovant $4.2 billion

Pfizer will pay Myovant $4.2 billion which includes an upfront payment of $650 million and potential regulatory milestones with the FDA approvals for relugolix combination tablet of around $200 million. Also, Myovant will receive tiered sales milestones of around 2.4 billion after reaching certain thresholds in net sales of ORGOVYX in prostates cancers and women’s health indications.

Pfizer Oncology’s Global President, Andy Schmeltz said they are delighted to partner with Myovant to bring ORGOVYX to advanced prostate cancer patients.