February 16, 2017 / 12:14 PM / 7 months ago

BRIEF-Astrazeneca says will get $130 mln as milestone payment after Brodalumab approval

Feb 16 (Reuters) - Astrazeneca Plc :

* Partner Valeant Pharmaceuticals announced that US FDA has approved Siliq (Brodalumab) injection for treatment of adult patients with moderate-to-severe plaque psoriasis

* Through a collaboration agreement, astrazeneca granted valeant exclusive license to develop and commercialise siliq globally, except in japan and certain other asian countries

* Under terms of agreement, Astrazeneca will receive a milestone payment of $130 million from valeant at first regulatory approval

* This milestone will be recorded in Astrazeneca financial statements as externalisation revenue

* Following approval, Astrazeneca and Valeant will share profits from sale of siliq in US market. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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