Pfizer decision propels Exact Sciences
Beginning in the fourth quarter, Pfizer one of the world’s largest pharmaceutical companies, will put its marketing muscle behind Madison-based Exact Sciences’ Cologuard at-home, DNA stool test for colorectal cancer. Exact Science’s stock jumped 26% immediately after the announcement.
According to an Exact Sciences release, Pfizer has signed an agreement through 2021 to co-promote Cologuard, the first and only FDA-approved noninvasive stool DNA screening test for colorectal cancer. Reportedly, the two companies will each invest $24 million next year to promote Cologuard.
In a Reuters report, Exact Sciences CEO Kevin Conroy says Pfizer will also receive 50% of gross profit above an agreed-upon baseline. The Madison company will continue marketing the product.