Blueprint Medicines Divests GAVRETO Rights to Rigel

Blueprint Medicines (BPMC) has released an update.

Rigel Pharmaceuticals has acquired the U.S. rights to GAVRETO, a cancer treatment drug, from Blueprint Medicines Corporation for an initial $15 million, plus potential future payments and royalties. This move comes as Blueprint Medicines ends its global collaboration with Roche, except for in Greater China, and coincides with a transition agreement to phase out the drug’s development and marketing outside the U.S. and Greater China. The deal is expected to reduce Blueprint’s operating expenses while having minimal impact on their overall financial strategy for 2024.

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