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Roche has struck a $1.7 billion cancer drug pact with Blueprint Medicines, it said on Tuesday, as advances in genetic testing for rare mutations drive lucrative deals for expensive treatments.
The Swiss drugmaker will pay $675 million in cash and make a $100 million equity investment in Blueprint for rights to pralsetinib, which could gain US approval against so-called RET-altered non-small cell lung cancer in November.
US company Blueprint, which has been working with Roche since 2016, could also receive up to $927 million in milestone payments, plus royalties on sales outside the United States, Roche said in a statement.
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