MYOV - Myovant in pact with Accord Healthcare to commercialize Orgovyx in Europe

Commercial-stage biotech, Myovant Sciences (NYSE:MYOV) has partnered with U.K.-based pharmaceutical company Accord Healthcare to introduce prostate cancer therapy, Orgovyx in Europe. The exclusive license agreement covers the European Economic Area, United Kingdom, Switzerland, and Turkey. Per the terms of the deal, Accord will also have the right of the first negotiation should Myovant decide to enter the licensing agreements in countries in the Middle East, Africa, and India. In return, Myovant (MYOV) is set to receive $50 million upfront in addition to milestone payments worth up to $90.5 million and tiered royalties from the high-teens to mid-twenties on net sales. The deal follows the European regulatory nod for Orgovyx in April for the treatment of adults with advanced hormone-sensitive prostate cancer.

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Myovant in pact with Accord Healthcare to commercialize Orgovyx in Europe