Pfizer, OPKO reach growth hormone drug pact worth up to $570M
- Pfizer and OPKO Health are collaborating on a medication that will address growth-hormone deficiency—without the inconvenience of daily injections. With this deal, Pfizer is continuing to invest in rare disease R&D.
- The two companies are going to develop and commercialize the new therapy, hGH-CTP, together. OPKO will receive $295 million up front and is eligible for an additional $275 million in milestone payments.
- OPKO's new treatment is in phase III trials.
If hGH-CTP is approved, it will be a game-changer in the $3 billion growth-hormone deficiency market. Currently, children receiving growth hormone therapy must endure daily injections. But if hGH-CTP is approved, they will be able to gain the same benefits with once-weekly therapy.
This type of therapeutic R&D is consistent with Pfizer's foray into rare diseases and nicely complements the company's existing Genotropin growth-hormone franchise.