In return for an impressive US$200 M upfront, Exelixis has granted Ipsen rights to develop and commercialise its lead cancer drug cabozantinib outside the US, Canada and Japan. Cabozantinib is already marketed as Cometriq® in the US and Europe for the treatment of advanced medullary thyroid cancer but has significant commercial potential in additional cancer types. The drug will be a significant addition to Ipsen’s urology-oncology portfolio should it gain approval for renal cell carcinoma, which could come later in 2016, and it is expected to compete well with Bristol-Myers Squibb’s Opdivo® (nivolumab) in this large and growing market.