Grifols gains exclusive rights to fostamatinib in Europe and Turkey

Rigel Pharmaceuticals’ shares were up 10.9% at $2.24 pre-market, after it revealed an exclusive license and supply agreement with Spain’s Grifols (GRF: MC), a leading producer of plasma-derived medicines, to commercialize fostamatinib disodium hexahydrate in all potential indications in Europe and Turkey.

Fostamatinib is commercially available in the USA under the brand name Tavalisse and is the first and only SYK inhibitor indicated for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment.

"Grifols has a broad presence in Europe and an established position in the hematology commercial landscape, which supports our goal of bringing fostamatinib to patients in these countries," said Raul Rodriguez, president and chief executive of Rigel, adding: "Our marketing authorization application for fostamatinib in chronic ITP is currently under review by the European Medicines Agency, and we anticipate a decision by the end of 2019. This provides a potential opportunity for fostamatinib to begin generating revenue in the European market in 2020."