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AstraZeneca pays $50 mln for rights to Merck cancer drug
September 11, 2013 / 10:53 AM / 4 years ago

AstraZeneca pays $50 mln for rights to Merck cancer drug

Sept 11 (Reuters) - Merck & Co Inc has licensed its experimental cancer drug to AstraZeneca Plc for a $50 million upfront fee in a deal that shows Britain’s second-biggest drugmaker continuing to rebuild its pipeline.

Under the terms of the agreement, Merck, the No. 2 U.S. drugmaker, will also be eligible to receive future payments related to development and regulatory milestones, as well as tiered royalties.

The drug, MK-1775, is currently in mid-stage trials in combination with standard-of-care therapies for the treatment of patients with certain types of ovarian cancer.

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