As the FTSE 100 giant pushed ahead with offloading non-drug core assets to raise funds for its priority drugs pipeline in areas which includes cancer, AstraZeneca has acquired a deal worth around $400 (£309m) to sell rights to prome treatment for Parkinson’s disease.
AstraZeneca has agreed to a commercial tie-up with Takeda, a Japanese drug company, under which both companies will develop MEDI1341, the antibody therapy for degenerative neurological conditions including Parkinson’s together.Later this 2017r, it will enter phase one of clinical trials.
Later this 2017, it will enter phase one of clinical trials.
After selling the commercial rights to Zomig, a treatment for migraine, and Seloken, a beta-blocker, and, generating a combined £450m, the deal is the newest of AstraZeneca’s string of deals this summer to raise funds for its primary areas.Led by its chief executive, Pascal Soriot, AstraZeneca has been prioritising areas such as finding cures for respiratory and heart diseases, and cures for cancer, on the other hand, Takeda is a specialist of neuroscience.
Led by its chief executive, Pascal Soriot, AstraZeneca has been prioritising areas such as finding cures for respiratory and heart diseases, and treatments for cancer, on the other hand, Takeda is a specialist of neuroscience.The deal’s terms
The deal’s terms state that AstraZeneca will be paid by Takeda of up to $400m and the two companies will go after that share future costs in development and commercialisation, as well as revenues in the future.
The MEDI1341’s phase one development will be worked on by AstraZeneca, while future clinical development will be led by Takeda. On the other hand, at the start of the week,
Also, at the onset of the week, AstraZeneca separately confirmed a deal with Boston-based Berg to utilise artificial intelligence as the search for the treatment for Parkinson’s disease continues.An approval regarding the expanded use of Faslodex, its breast cancer products, were received by the company from regulators from the United States
An approval regarding the increased use of Faslodex, its breast cancer products, were received by the firm from regulators from the United States.The go-signal means that the drug can be taken by women with further types of advanced breast cancer.
The go-signal means that the drug can be taken by women with further types of advanced breast cancer.Looking to bounce back after a bad initial
Looking to bounce back after a bad initial read out from a drug trial for lung cancer wiped £10bn from the market value of the company in a single day last July, the news comes as a boost to AstraZeneca’s oncology business.
“By combining our scientific expertise and sharing the risks and cost of development, we hope to accelerate the advancement of MEDI1341 as a promising new approach to support the treatment of people with Parkinson’s disease around the world” stated Mene Pangalos, an executive Executive vice president at AstraZeneca, as a comment on the deal with Takeda.
By lunchtime trading today, AstraZeneca’s shares were down just over 1pc, a shade lower than the FTSE 100 as a whole, which was down more than 1.1pc.