Thursday, April 19, 2007

Novartis pick up sloppy seconds

Switzerland's Novartis has bought the global rights to a lung cancer drug previously rejected by rival Roche, in the latest move to strengthen its oncology pipeline.

Novartis said on Thursday it would pay British biotech firm Antisoma $75 million upfront for AS1404, though total payments could reach as much as $890 million if a series of milestones are met and a second drug is acquired.

Reuters

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