Yuhan signs $1.25 billion licensing deal with Janssen

South Korean pharma company Yuhan Corp (KS: 000100) has licensed out its new clinical-stage lung cancer drug to Janssen Biotech, a unit of US healthcare giant Johnson & Johnson (NYSE: JNJ), in a deal potentially valued at up to $1.25 billion, according to the Korea Herald and other local media.

Yuhan said it had entered a licensing and cooperation agreement with Janssen to develop lazertinib, a novel clinical-stage therapeutic candidate for the treatment of patients with non-small cell lung cancer (NSCLC).

Following news of the agreement, shares of Yuhan spiked 29.78% to close at 231,000 won on Monday.

Deal includes $50 million upfront payment