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AstraZeneca, Daiichi Sankyo sign $6.9 billion cancer drug deal


AstraZeneca, Daiichi Sankyo sign $6.9 billion cancer drug deal

Under the deal, AstraZeneca will pay Daiichi up to $6.9 billion, including a $1.35 billion upfront payment. The two companies will share development and commercialisation costs for the drug worldwide, with Daiichi retaining exclusive rights in Japan.

U.S: AstraZeneca Plc and Japan’s Daiichi Sankyo Co Ltd have signed a potential multibillion-dollar collaboration to develop and sell Daiichi’s cancer drug trastuzumab deruxtecan.

Under the deal, the drug firm will pay Daiichi up to $6.9 billion, including a $1.35 billion upfront payment. The two companies will share development and commercialisation costs for the drug worldwide, with Daiichi retaining exclusive rights in Japan.

The news sent Daiichi’s shares up 16 per cent, its daily limit, in morning Tokyo trading on Friday.

Trastuzumab deruxtecan “has the potential to redefine breast cancer treatment as the first therapy for HER2 low expressing tumors,” AstraZeneca Chief Executive Pascal Soriot said in a statement, referring to a type of breast cancer fueled by a protein called HER2.

Also Read: AstraZeneca gets EU nod to diabetes drug Forxiga

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Garima

Garima

Garima Joined Medical Dialogues as Desk Editor for Medical Dialogues in the year 2017. She covers all the Healthcare news in different categories. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751


Source: Reuters
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