Roche terminates deal with Blueprint on Gavreto

Two and half years after the Swiss pharma giant paid $775 million up front to in-license the RET inhibitor, as part of a $1.7 billion deal with US biotech Blueprint Medicines (Nasdaq: BPMC), Roche (ROG: SIX) is pulling out of the deal to develop Gavreto (pralsetinib), citing “strategic reasons”.

Under the terms of the agreement, the termination will be effective 12 months from the notification date of February 22, 2023. During the transition period, Blueprint and Roche are mutually committed to ensuring a smooth transition process with no anticipated interruptions or changes to patient access. In addition, the company will explore options to advance and simplify the continued global commercialization and development of Gavreto.

"At Blueprint Medicines, we are dedicated to driving innovation and changing outcomes for patients with lung cancer. Gavreto is an important treatment option for patients with RET fusion-positive lung cancer and other RET-altered cancers, and we are committed to ensuring that patients being treated with Gavreto in the commercial and clinical trial settings continue to have access," said Kate Haviland, chief executive of Blueprint Medicines, whose shares closed down nearly 3% at $41.57 yesterday.