Myovant & Pfizer To Jointly Develop And Commercialize ORGOVYX - Quick Facts

(RTTNews) - Myovant Sciences (MYOV) and Pfizer Inc. (PFE) has entered a collaboration to develop and commercialize relugolix, a gonadotropin-releasing hormone receptor antagonist. Myovant and Pfizer will jointly develop and commercialize ORGOVYX (relugolix) in advanced prostate cancer and, if approved, relugolix combination tablet in women's health in the U.S. and Canada. The companies will begin co-promoting ORGOVYX for advanced prostate cancer in early 2021.

Myovant and Pfizer will equally share profits and certain expenses for ORGOVYX and relugolix combination tablet with Myovant recording revenues. Myovant will receive up to $4.2 billion, including an upfront payment of $650 million, $200 million in potential regulatory milestones for FDA approvals for relugolix combination tablet in women's health, and tiered sales milestones upon reaching certain thresholds up to $2.5 billion in net sales for prostate cancer and also for the combined women's health indications.

The FDA approved ORGOVYX on December 18, 2020 for the treatment of adult patients with advanced prostate cancer. Relugolix combination tablet is currently under regulatory review by the FDA for women with uterine fibroids, with a target action date of June 1, 2021.

Shares of Myovant Sciences were up 35% in pre-market trade on Monday.