Allergan to pay up to $1.52 billion for AstraZeneca's inflammatory diseases drug

3 October 2016

Ireland-headquartered Allergan (NYSE: AGN) could pay as much as $1.52 billion to MedImmune, the global biologics research and development arm of Anglo-Swedish pharma major AstraZeneca (LSE: AZN), for the global rights to a promising inflammatory diseases drug.

MEDI2070 is an IL-23 monoclonal antibody currently in a Phase IIb clinical trial for moderate-to-severe Crohn’s disease, and it is ready for a Phase II study in ulcerative colitis.

These diseases are outside AstraZeneca’s main therapy areas of respiratory, cardiovascular and metabolic diseases, and oncology, though MedImmune will continue the ongoing Phase II trials until a mutually-agreed transition date.

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