BPMC - Blueprint Medicines Roche end partnership for cancer medicine

Blueprint Medicines ( NASDAQ: BPMC ) announced Thursday that Roche ( OTCQX:RHHBY ) ( OTCQX:RHHBF ) has decided to end its collaboration agreement for Gavreto, an FDA-authorized therapy for certain cancer types caused by a genetic mutation called RET.

Accordingly, Blueprint ( BPMC ) will regain global commercialization and development rights for Gavreto, excluding Greater China, as the deal is expected to end 12 months from February 22, 2023, when Roche ( OTCQX:RHHBY ) informed its decision.

“During the transition period, Blueprint Medicines and Roche are mutually committed to ensuring a smooth transition process with no anticipated interruptions or changes to patient access,” the company added.

Blueprint ( BPMC ) is reviewing options on how best to run the global commercialization and development of Gavreto, which has generated ~$1B benefit for the company following its July 2020 partnership with Roche ( OTCQX:RHHBY ).

The company noted that Roche’s ( OTCQX:RHHBY ) departure would not affect its 2023 guidance for revenue and operating expenses.

Read: Seeking Alpha contributor Avisol Capital Partners issued a Buy rating on Blueprint ( BPMC ) in December, noting that the stock was hovering near 52-week lows.

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