Rigel secures access to lung-cancer drug with $15 million deal
- Rigel Pharmaceuticals to acquire U.S. rights to lung-cancer drug Gavreto from Blueprint Medicines
- Initial purchase price of $15 million
- Blueprint eligible for up to $97.5 million in commercial milestone payments
- Rigel expects to start recognizing product sales in the third quarter
- Gavreto generated $28 million in U.S. net product sales last year
- Blueprint regains global rights to Gavreto after collaboration agreement with Roche ends
Rigel Pharmaceuticals has agreed to buy the U.S. rights to the lung-cancer drug Gavreto from Blueprint Medicines for an initial purchase price of $15 million. Rigel will pay $10 million upon its first commercial sale of the drug and $5 million on the first anniversary of the closing date. Blueprint is also eligible to receive up to $97.5 million in commercial milestone payments and up to $5 million in regulatory milestone payments, along with tiered royalties on sales. Rigel expects to complete the transition of Gavreto and start recognizing product sales in the third quarter. Gavreto generated about $28 million in U.S. net product sales last year. Blueprint regains global rights to Gavreto after collaboration agreement with Roche ends.
Factuality Level: 9
Factuality Justification: The article provides clear and factual information about the agreement between Rigel Pharmaceuticals and Blueprint Medicines regarding the lung-cancer drug Gavreto. It includes details about the purchase price, milestone payments, royalties, and the background of the partnership between Blueprint and Roche. The information is presented in a straightforward manner without any bias or unnecessary details.
Noise Level: 3
Noise Justification: The article provides relevant information about the acquisition of the U.S. rights to the lung-cancer drug Gavreto by Rigel Pharmaceuticals from Blueprint Medicines. It includes details about the purchase price, milestone payments, royalties, and the background of the companies involved. The article stays on topic and supports its claims with specific numbers and facts. However, it lacks in-depth analysis, accountability, and actionable insights, which prevents it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: The acquisition of the U.S. rights to the lung-cancer drug Gavreto by Rigel Pharmaceuticals may impact the pharmaceutical industry and potentially the stock prices of Rigel Pharmaceuticals and Blueprint Medicines.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article does not mention any extreme events or their impact.
Public Companies: Rigel Pharmaceuticals (RIGL), Blueprint Medicines (BPMC), Roche (ROG)
Key People: Colin Kellaher (Author)
Reported publicly:
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