Arvinas announced that it has transferred the commercial rights of its experimental breast cancer drug, vepdegestrant, developed in collaboration with Pfizer, to a third-party partner. The drug is currently under review by the U.S. Food and Drug Administration (FDA) for a type of breast cancer, and a final decision on its approval has not yet been announced.
The company also said it will limit additional expenses for preparing the drug for commercialization and will reduce its workforce by 15%. Together with a $100 million share repurchase program, these measures are expected to generate annual savings of more than $100 million compared to 2024.
In May, trial results showed that vepdegestrant delayed disease progression in breast cancer patients with a specific genetic mutation by more than three months, compared to Faslodex, a drug developed by AstraZeneca.
Arvinas said it has transferred commercial rights for its experimental breast cancer drug vepdegestrant, developed with Pfizer, to a third-party partner. The drug is under review by the U.S. FDA, with a decision on approval still pending.
The company will also cut costs, reduce its workforce by 15%, and launch a $100 million share buyback, moves expected to save more than $100 million annually versus 2024.
In May, trial data showed vepdegestrant delayed disease progression in patients with a specific genetic mutation by over three months compared with AstraZeneca’s Faslodex.
