16th Jul 2015 09:52
LONDON (Alliance News) - FTSE 100-listed pharmaceutical company AstraZeneca PLC on Thursday said it has signed a deal with Kyowa Hakko Kirin Co Ltd for an exclusive option to commercialise benralizumab for asthma and chronic obstructive pulmonary disease in Japan.
Benralizumab is a monoclonal antibody in Phase III development for the treatment of severe uncontrolled asthma and COPD, AstraZeneca said.
Kyowa Hakko Kirin already has exclusive development and commercialisation rights for benralizumab in Japan and certain countries in Asia, while AstraZeneca has exclusive rights in all other countries including the US and Europe.
Under the new deal, AstraZeneca will pay Kyowa Hakko Kirin USD45 million upfront and subsequent payments for regulatory, approval and commercial milestones.
"Japan is the second largest pharmaceutical market in the world and one of our growth platforms. The agreement with Kyowa Hakko Kirin increases our focus on respiratory diseases, a main therapy area for AstraZeneca, and provides the opportunity to bring an innovative potential medicine to patients in Japan who are waiting for new treatment options," said Marc Dunoyer, AstraZeneca's chief financial officer.
AstraZeneca shares were flat to 4,343.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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