hGH-CTP, which is currently being tested for growth hormone deficiency in Phase II (children)
Pfizer is buying access to Opko Health's investigational long-acting human growth hormone, hGH-CTP in a deal worth $570 million, as per reports.
hGH-CTP, which is currently being tested for growth hormone deficiency in Phase II (children) and Phase III (adults), could offer a huge benefit to patients as it comes with once-weekly instead of once-daily injections.
Reportdly, the company is shelling out $295 million upfront and an extra $275 million on achievement of regulatory milestones for an exclusive global license to hGH-CTP.
Opko will lead the clinical activities and will be responsible for funding the development programs for the key indications, while Pfizer will be responsible for all development costs for additional indications as well as all post-marketing studies. The drug giant will also fund commercialisation activities for all indications and lead the manufacturing activities covered by the global development plan.
"The global growth hormone market is currently valued at more than $3 billion, and it believes hGH-CTP has the potential to be the best in class long-acting growth hormone product," said the company in a statement.