AstraZeneca hands off another Amgen-partnered drug in a $1.5B deal with an acquisitive Allergan
AstraZeneca is cashing in more of its R&D chips today, bagging a $250 million upfront and $1.27 billion in milestones for an IL-23 out-licensing deal with the wheeling and dealing executive crew at Allergan. The pact marks another exit out of a troubled 4-year-old collaboration with Amgen.
Allergan, which is engaged in a deal frenzy right now, gains exclusive global rights to MEDI2070, now in development for Crohn’s disease and ulcerative colitis. And it’s committed to a biobuck package that breaks down with $435 million in launch payouts as well as $725 million for sales goals — if it makes its way to the market.
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