AstraZeneca Plc and Daiichi Sankyo Co Ltd signed a deal to develop and sell Daii...
TOKYO - AstraZeneca Plc and Daiichi Sankyo Co Ltd signed a deal to develop and sell Daiichi’s cancer drug trastuzumab deruxtecan that could see the British drugmaker pay as much as $6.9 billion to its Japanese partner.
Under the deal, AstraZeneca will make an upfront payment of $1.35 billion to Daiichi. They will share development and commercialization costs for the drug worldwide, with Daiichi retaining exclusive rights in Japan. The deal is also a big bet on Japanese research by AstraZeneca Chief Executive Pascal Soriot, who is seeing results in his efforts to replenish the British drugmaker’s pipeline as its cancer drug sales grow.
The drug also has the potential to treat lung and colorectal cancers. AstraZeneca plans to use some of the proceeds of a $3.5 billion share issue to fund the deal. Daiichi is expected to book sales for the cancer drug in the United States, certain countries in Europe and some other markets where it has affiliates.
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