1st Sep 2015 06:42
LONDON (Alliance News) - AstraZeneca PLC on Tuesday said it has signed a collaboration deal with Canada's Valent Pharmaceuticals Inc under which it will grant Valeant the exclusive licence to develop and commercialise its brodalumab product.
Brodalumab is a drug currently in development for patients with moderate-to-severe plaque psoriasis and psoriatic arthritis.
Under the deal, Valeant will acquire the rights to develop and commercialise the product globally, except for in Japan.
Under the terms of the agreement, Valeant will make an up-front payment to AstraZeneca of USD100 million as well as additional pre-launch milestones of up to USD170 million and further sales related milestone payments of up to USD175 million following launch. Following approval of the product, AstraZeneca and Valeant will share profits.
By Sam Unsted; [email protected]; @SamUAtAlliance
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