Myovant and Pfizer’s $4.2 Billion Deal for Orgovyx

Myovant Sciences is partnering with Pfizer to develop and commercialize Orgovyx for prostate cancer and women’s health. Orgovyx is the brand of relugolix.

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.

Financials of the deal

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 after hitting specific thresholds up to $2.5 billion in net sales for prostate cancer and also 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.

About ORGOVYX™ (relugolix)

ORGOVYX (relugolix) is the first and only oral gonadotropin-releasing hormone (GnRH) receptor antagonist approved by the FDA for the treatment of adult patients with advanced prostate cancer. As a GnRH antagonist, ORGOVYX blocks the GnRH receptor and reduces production of testicular testosterone, a hormone known to stimulate the growth of prostate cancer.

Indication

ORGOVYX is approved for the treatment of adult patients with advanced prostate cancer.