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Exact Sciences Signs Partnership with Pfizer to Market Cologuard Tests

Diagnostics & Healthcare News August 23, 2018

Sales representatives of Pfizer Inc., the world’s largest pharmaceutical company, will join Exact Sciences Corp.’s sales representatives in selling the company’s non-invasive screening test for colorectal cancer to physicians and health systems under an agreement announced Wednesday.

Pfizer will make at least 625,000 sales calls a year for Exact Sciences under the agreement.

The two companies also committed to spending an additional $174 million, including $48 million this year, on marketing over four years.

The additional spending for advertising and other sales campaigns will be in addition to a baseline of $80 million a year that Exact Sciences spends on marketing for its Cologuard test.

“This partnership enables us, we believe, to permanently alter the trajectory of Cologuard,” Kevin Conroy, chairman and chief executive officer of Exact Sciences, said in a conference call with Wall Street analysts Wednesday morning.

Exact Sciences stock opened $10 a share, or 25 percent, higher Wednesday after the announcement. It closed at $65.32 a share, up $15.27, or 30.5 percent.

Read More at the Source: Exact Sciences signs agreement with Pfizer to market Cologuard tests

By: Guy Boulton

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