Roche inks deal with Blueprint worth up to $1.7 billion for cancer drug

ZURICH (Reuters) – Swiss drugmaker Roche will pay up to $1.7 billion to Blueprint Medicines to help develop and commercialise a new treatment for people with so-called RET-altered cancers that have mutations that drive tumour growth.

Roche will pay $675 million in cash and a $100 million equity investment in Blueprint to get rights to pralsetinib, in late-stage development for people with RET-altered non-small cell lung cancer as well as other cancers. Blueprint could also get up to $927 million in milestones, plus royalties on sales outside the United States, the Basel-based drugmaker said in a statement.

(Reporting by John Miller; editing by Brenna Hughes Neghaiwi)