Merck Germany Regains Exclusive Global Rights To Cancer Drug From Pfizer
Germany’s Merck KGaA (OTC: MKGAF) (OTC: MKKGY) has regained exclusive worldwide rights to develop, manufacture, and commercialize its checkpoint blocker Bavencio (avelumab) from Pfizer Inc (NYSE: PFE).
The news comes just a few weeks after Pfizer announced plans to buy antibody-drug conjugate (ADC) company Seagen Inc (NASDAQ: SGEN) at $43 billion.
Pfizer will exit its global partnership with Merck KGaA over the PD-L1 MAb on 30 June, handing over all future clinical work and commercialization and swapping a 50% profit share for a 15% royalty.
Merck KGaA and Pfizer will continue operationalizing their respective ongoing clinical trials for Bavencio, and Merck KGaA will control all future research and development activities.
Product manufacturing and supply chain will remain solely with Merck KGaA ensuring continuous and reliable access to Bavencio for patients.
Bavencio was discovered in-house at Merck KGaA, and the alliance with Pfizer was executed in 2014 to co-develop and co-commercialize Bavencio.
Price Action: PFE shares are down 0.24% at $40.30 on the last check Monday.
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