AstraZeneca deal for novel HER2-targeting antibody-drug conjugate could cost it nearly $7 billion
Pursuing its ambitions as a leader in oncology, AstraZeneca (LSE: AZN) has inked a major deal, agreeing to pay as much as $6.9 billion to buy into a promising Japanese cancer treatment.
The Anglo-Swedish pharma major is gaining rights to Daiichi Sankyo’s (TYO: 4568) lead antibody drug conjugate (ADC), [fam-] trastuzumab deruxtecan (DS-8201), currently in pivotal development for multiple HER2 expressing cancers including breast and gastric cancer, and additional development in non-small cell lung and colorectal cancer.
News of the agreement saw shares of Daiichi Sankyo, Japan’s third largest drugmaker, leap 15.9% to 5,100 yen, but AstraZeneca was down 4.6% at 6,195 pence in early morning trading.
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