J&J pays $500M in cash to grab rights to a new star cancer drug at argenx
J&J execs believe they have found their next big cancer drug.
Early Monday the pharma giant announced that it was paying Belgium’s argenx $500 million — $300 million as an upfront and $200 million for equity — to grab the worldwide commercial rights to cusatuzumab (ARGX-110) to treat acute myeloid leukemia and high-risk myelodysplastic syndromes. The deal also comes with $1.3 billion in milestones.
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