By Colin Kellaher

Arvinas and Pfizer have chosen Rigel Pharmaceuticals to bring their recently approved breast-cancer drug Veppanu to market.

The three companies on Tuesday said they have signed a licensing agreement that gives biotechnology company Rigel the exclusive global development, manufacturing and commercialization rights for Veppanu, which the U.S. Food and Drug Administration has approved for adults with certain forms of advanced metastatic breast cancer.

Arvinas and Pfizer, who jointly developed Veppanu, will split an upfront payment of $70 million from Rigel, along with an additional $15 million upon successful completion of certain development and manufacturing transition activities and will be eligible for up to another $320 million in regulatory and commercial milestone payments, the companies said.

Rigel will be responsible for the launch and commercialization of Veppanu in the U.S. and will own global rights to further develop and commercialize the drug around the world.

Arvinas and Pfizer will continue to be responsible for current ongoing development activities, with Rigel chipping in up to $40 million toward those activities, the companies said.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 12, 2026 07:41 ET (11:41 GMT)

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