Monday, April 02, 2012

Amgen, AstraZeneca team on 5 experimental drugs - MarketWatch


SAN FRANCISCO (MarketWatch) -- Amgen Inc. and AstraZeneca PLC said late Monday they were partnering to further develop and try to bring to market five biotech drugs candidates from Amgen's collection. Under the agreement, AstraZeneca will make an upfront payment of $50 million and foot 65% of the costs from 2012 to 2014. After that, the companies will split costs and share profits from the drugs after Amgen receives royalty payments in the single digits. The drug candidates primarily are designed to treat inflammatory diseases such as psoriasis, asthma and autoimmune diseases such as lupus.

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