Blueprint Medicines Corporation BPMC announced that it has entered into a global collaboration agreement with Genentech, a subsidiary of Roche RHHBY, to develop/commercialize the precision therapy, pralsetinib, of the former.The candidate is being developed for treating patients with RET-fusion non-small cell lung cancer (NSCLC), RET-mutant medullary thyroid cancer (MTC), other thyroid cancers as well as other solid tumors.Per the deal, Blueprint Medicines will receive an upfront payment of $775 million (cash payment of $675 million and an equity investment of $100 million) from Roche. The company will also receive up to an additional fee of $927 million in development, regulatory and sales-based milestones. Moreover, it is entitled to receive tiered royalties in the range of high-teens to mid-twenties on net sales of pralsetinib outside the United States.Going by the agreement, Blueprint Medicines along with Roche will co-commercialize pralsetinib and equally share profits in the United States while the latter will get exclusive commercialization rights to pralsetinib in ex-U.S. markets excluding Greater China. Both companies plan to expand the development of pralsetinib in multiple treatment settings.The press release states that the above-mentioned collaboration deal with Roche will help Blueprint Medicines transform into a leading precision medicine company, investing in pipeline candidates with a strong financial position.In March 2016, Blueprint Medicines inked a collaboration deal with Roche to discover, develop and commercialize up to four small-molecule therapies, targeting kinases in cancer immunotherapy, either as monotherapies or combination therapies.Notably, CStone Pharmaceuticals will retain all the rights to develop/commercialize pralsetinib in Greater China.Shares of Blueprint Medicines were up in pre-market trading on Tuesday following the announcement of the aforementioned deal. However, the stock has declined 4.3% so far this year against the industry’s increase of 6.7%.Earlier this month, Blueprint Medicines submitted a new drug application (NDA) to the FDA for pralsetinib to address patients with advanced or metastatic RET mutant MTC as well as RET fusion-positive thyroid cancers.In May 2020, Blueprint Medicines filed an NDA to the FDA as well as marketing applications in the EU for pralsetinib to address RET fusion-positive NSCLC.Zacks Rank & Other Stocks to ConsiderBlueprint Medicines currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. EBS and BioMarin Pharmaceutical Inc. BMRN, both presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Emergent’s earnings estimates have been revised 26.7% upward for 2020 and 29.8% for 2021 over the past 60 days. The stock has soared 69.2% year to date.BioMarin’s earnings estimates have moved 3.3% north for 2020 and 13.4% for 2021 over the past 60 days. The stock has surged 47.1% year to date.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report Emergent Biosolutions Inc. (EBS): Free Stock Analysis Report Blueprint Medicines Corporation (BPMC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research