TOKYO, Oct. 27, 2009 (Kyodo News International) -- Japanese drugmaker Astellas Pharma Inc. (OOTC:ALPMY) and Medivation Inc. (NASDAQ:MDVN) , a U.S. biopharmaceutical firm, said Wednesday they have agreed to develop and commercialize worldwide a drug to treat prostate cancer.

According to the agreement, the two companies will work on a ''comprehensive development program,'' including further studies to develop Medivation's investigational drug MDV3100 for various stages of prostate cancer, they said.

While the two firms will jointly commercialize the drug in the United States, where they will equally share development and commercialization costs as well as profits, Astellas will be in charge of such activities outside the United States and pay Medivation royalties on sales, they added.