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May 12, 2026 4:01 PM

Rigel Pharmaceuticals Inks Breast Cancer Drug Deal With Arvinas, Pfizer

Rigel Pharmaceuticals Inc. (NASDAQ:RIGL) stock is trading higher on Tuesday as the company is entering an exclusive global licensing agreement with Arvinas Inc. (NASDAQ:ARVN) and Pfizer Inc. (NYSE:PFE) for its oral PROTAC drug, VEPPANU (vepdegestrant).

This news comes as the broader Healthcare sector is gaining 2.39%, making it the best-performing sector today, while major indices like the S&P 500 are experiencing a loss of 1.0%.

Rigel To Support VEPPANU Development

Rigel Pharmaceuticals has announced a licensing agreement to develop and commercialize VEPPANU, with plans to contribute up to $40 million towards development over the next four ...