Rigel Pharmaceuticals Acquires U.S. Rights To GAVRETO From Blueprint Medicines; Blueprint Receives $15M Purchase Price; Eligible For Up To $97.5M In Commercial Milestone Payments And $5M In Future Regulatory Milestone Payments
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Rigel Pharmaceuticals has acquired the U.S. rights to GAVRETO from Blueprint Medicines for a $15M purchase price, with potential for up to $97.5M in commercial milestone payments and an additional $5M in future regulatory milestone payments. GAVRETO, an FDA approved therapy for certain cancers, generated approximately $28M in U.S. sales in 2023. This acquisition expands Rigel's portfolio and leverages its existing infrastructure.
February 22, 2024 | 12:53 pm
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Blueprint Medicines receives a $15M purchase price from Rigel Pharmaceuticals for the U.S. rights to GAVRETO, with eligibility for up to $102.5M in future milestone payments.
Blueprint Medicines' sale of GAVRETO's U.S. rights to Rigel Pharmaceuticals for $15M, plus the potential for significant future milestone payments, provides immediate financial benefits and future revenue opportunities. This deal could positively impact Blueprint's financial position and its ability to invest in other projects.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Rigel Pharmaceuticals' acquisition of GAVRETO could significantly enhance its product portfolio and revenue, leveraging its infrastructure for better market penetration.
The acquisition of GAVRETO not only expands Rigel's product portfolio but also utilizes its existing infrastructure, potentially increasing its market presence and revenue. Given GAVRETO's past sales performance, this move is likely to have a positive impact on Rigel's financials in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90