May 9

The Business Cocktail

AstraZeneca-Daiichi breast cancer treatment scored promising results

The breast cancer drug trastuzumab deruxtecan developed by AstraZeneca and Daiichi Sankyo showed positive results in a metastatic breast cancer trial. AstraZeneca remunerated Daiichi Sankyo USD 1.35 billion upfront and guaranteed up to USD 6.9 billion overall to secure rights. The British company gave USD 3.5 billion to fund the agreement.

Novartis remunerates USD 5.3 billion to Takeda for eye drug

Takeda Pharmaceutical nods to sell its dry eye drug to Novartis for USD 3.4 billion and milestone payments up to USD 1.9 billion. The Japanese group had arrived an agreement to sell its Xiidra product, the only treatment approved by the USFDA for the treatment of dry eye disease signs and symptoms, to Novartis.

Pfizer to acquire Therachon for USD 340 Million

Pfizer will sell USD 340 million upfront to buy private biotech, Therachon, a biotechnology company. The Swiss-based Therachon had developed the drug, TA-46, through Phase 1 clinical testing in achondroplasia, the most common form of dwarfism. Pfizer will include the asset into its rare disease collection. The agreement also includes USD 470 million in milestone payments.

Gilead Sciences collaborate with Goldfinch Bio for Kidney Disease

Gilead Sciences, a research-based biopharmaceutical company focused on the discovery, development, and commercialization of innovative medicines will collaborate with Goldfinch Bio to develop, and commercialize novel therapeutics for diabetic kidney disease and orphan kidney diseases. Through this partnership, they could generate more than USD 2 billion.

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