Biohaven, Pfizer in Collaboration to Commercialize Rimegepant
November 09 2021 - 8:47AM
Dow Jones News
By Michael Dabaie
Biohaven Pharmaceutical Holding Co. said it is in a strategic
commercialization arrangement with Pfizer Inc. for rimegepant in
markets outside of the U.S. upon approval.
Rimegepant is commercialized as Nurtec ODT in the U.S., and is
indicated for acute treatment of migraine attacks and preventive
treatment of episodic migraine in adults.
An application for the approval of rimegepant is currently under
review by the European Medicines Agency and several additional
regulatory authorities outside of the U.S., Biohaven said.
Under the arrangement, Biohaven would remain primarily
responsible for further clinical development of rimegepant and the
companies would cooperate in regulatory activities to secure
approval.
Biohaven will continue to solely commercialize Nurtec ODT in the
U.S and Pfizer would commercialize rimegepant, upon approval, in
all regions outside the U.S.
Pfizer also gains rights outside of the U.S. to zavegepant,
currently being studied in an intranasal delivery and a soft-gel
formulation in Phase 3 clinical trials for migraine
indications.
Pfizer would make an upfront payment of $500 million, consisting
of $150 million cash and $350 million in the purchase of Biohaven
equity at a 25% market premium. Biohaven can also receive up to
$740 million in milestones.
In addition to the tiered double-digit royalties owed to
Biohaven on net sales outside of the U.S., Pfizer would compensate
Biohaven for the related royalties on net sales outside of the U.S.
owed under its license and funding agreements with Bristol-Myers
Squibb Co. and Royalty Pharma PLC.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 09, 2021 08:32 ET (13:32 GMT)
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