16/02/2010 16:24
By Ben Hirschler
LONDON (Reuters) - AstraZeneca Plc waded into the competitive rheumatoid arthritis market on Tuesday by signing a deal worth up to $1.245 billion (792 million pounds) for rights to Rigel Pharmaceuticals Inc's next-generation drug R788.
The deal is a big vote of confidence in the Rigel product, known chemically as fostamatinib disodium, which failed in a mid-stage Phase II study last July.
Despite that setback, AstraZeneca and Rigel believe it can still win through in final-stage Phase III tests, as an oral alternative to injections of anti-TNF medicines.
An AstraZeneca spokesman said there was evidence that results in the failed trial were due to technical issues with the study design and interpretation.
via talktalk.co.uk
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