Astellas Pharma Inc. and a U.S. pharmaceutical firm said Wednesday they have agreed to develop and commercialize worldwide a drug to treat prostate cancer.

The Japanese drugmaker and Medivation Inc. will work on a "comprehensive development program," including further studies to develop the U.S. firm'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 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 said.