Roche Decides To Terminate Cancer Treatment Pact With Blueprint Medicines

• Blueprint Medicines Corporation (NASDAQ: BPMC) will regain global commercialization and development rights to Gavreto (pralsetinib), excluding Greater China, following a decision by Roche Holdings AG (OTC: RHHBY) to discontinue the collaboration agreement for strategic reasons.

• The termination will be effective 12 months from the notification date of Feb. 22, 2023.

• Blueprint Medicines will explore options to advance and simplify the continued global commercialization and development of Gavreto.

• Since initiating the collaboration with Roche in July 2020, Blueprint Medicines has benefited from approximately $1 billion between upfront and milestone payments and cost-sharing of the commercialization and development of Gavreto.

• The company anticipates no impact on its 2023 revenue guidance, which includes $40 million to $50 million in collaboration revenues from existing collaborations or its anticipated operating expenses in 2023.

• Related: FDA Slaps Partial Clinical Hold On Blueprint Medicines' Early-Stage Solid Tumor Study.

• In addition, BPMC expects that its current cash position, and anticipated future product revenues, will provide sufficient capital to enable it to achieve a self-sustainable financial profile.

• The FDA approved Gavreto for three indications in lung and thyroid cancer settings.

• Blueprint Medicines has an exclusive collaboration and license agreement with CStone Pharmaceuticals for the development and commercialization of Gavreto in Greater China, encompassing Mainland China, Hong Kong, Macau, and Taiwan.

• Price Action: BPMC shares are down 1.11% at $42.37 on the last check Thursday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Roche Decides To Terminate Cancer Treatment Pact With Blueprint Medicines originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.