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BioMarin gets $15M milestone payment from Pfizer after Talzenna's FDA approval

BioMarin Pharmaceutical Inc. received a $15 million milestone payment from Pfizer Inc. after the U.S. Food and Drug Administration approved Talzenna to treat a subtype of breast cancer.

Talzenna, or talazoparib, was approved to treat breast cancer with inherited BRCA-mutation, which does not express a large amount of a protein called HER2. Cancer cells without HER2, which helps to control cell growth, may grow more slowly and are less likely to recur compared to HER2-positive cancer.

California-based BioMarin sold Medivation Inc. all worldwide rights to Talzenna for an up-front payment of $410 million in August 2015. The agreement included up to $160 million in additional milestone payments, of which $35 million have been received by BioMarin.

In September 2016, Pfizer acquired Medivation and became responsible for research, development, regulatory and commercialization activities for Talzenna.