Shares of MyWant Sciences rose 27 percent on Monday when its parent Sumitovant Biopharma unveiled an agreement with Pfizer Inc. to jointly pay અને 4.2 billion for prostate cancer and women’s health.
Mewant Mayov,
rel and ૦ 0 million of payment will be received, and Market Regulix, a once-daily, anti-oral gonadotropin-releasing hormone (GNRH) receptor antagonist, which received approval from the US Food and Drug Administration in December for advanced prostate cancer.
If approved, both companies will also develop Regiglix blend tablets (Reguglix 40 mg, estradiol 1.0 mg, and norethindrone acetate 0.5 mg) aimed at women’s health in the US and Canada. They will begin co-promoting the treatment, which will be sold as Orgovix as a treatment for prostate cancer in early 2021.
See: Bayer prostate cancer drug approved in China
Companies will share equal profits and certain expenses, while Mayowant will record revenue. Mewant will also be responsible for interaction with the regulator and for drug supply and clinical development. Among the potential regulatory targets for FDA approval for the Riguglix combination tablet in women’s health will be the company The 200 million and sales targets after reaching 2.5 2.5 billion in net sales for prostate cancer and women’s health indicators.
Nick Lagunovich, global president of Pfizer Internal Medicine PFE, said millions of women who experience normal and debilitating symptoms associated with uterine fibroids and endometriosis are in constant need.
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Evercore analyst Josh Shimmer said the deal was positive for Mayowant.
“After giving it some time to digest, we liked it,” Shimmer wrote in a note to customers. “While it leaves half the economics of the Regulix (which we didn’t model), it’s enough to add PFE’s commercial efforts as well as the billions of milestones we think it can achieve.”
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He reiterated his outperform rating on the stock and price target of કિંમત 55, saying the stock is one of his stop mid-cap picks.
He said investors were concerned that Sumitomo’s majority stake in MYOV could limit strategic partners on the road. “The deal connects another strong company with potentially valuable synergies.”
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Mayowant is one of five companies under the Sumitovant umbrella.
According to CancerNet, men have the highest incidence of prostate cancer, apart from skin cancer. An estimated 191,930 men will be diagnosed with the disease this year, of which about 60% will be over 65 years of age.
Shares of Mayowant rose 84% in 2020, while SPDR S&P Biotech ETF XBI,
57% and the S&P 500 SPX is up,
Increased by 16%.
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