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Last $31.60 USD
Change Today +0.91 / 2.97%
Volume 282.1K
AZN On Other Exchanges
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As of 9:43 AM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

astrazeneca plc-spons adr (AZN) Key Developments

Valeant Pharmaceuticals International, Inc. and Astrazeneca Enter Collaboration Agreement on Brodalumab

Valeant Pharmaceuticals International Inc. announced that its affiliate has entered into a collaboration agreement with AstraZeneca (AZN) under which Valeant was granted an exclusive license to develop and commercialize brodalumab. Brodalumab is an IL-17 receptor monoclonal antibody in development for patients with moderate-to-severe plaque psoriasis and psoriatic arthritis. Under the agreement, Valeant will hold the exclusive rights to develop and commercialize brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co. Ltd. under a prior arrangement with Amgen Inc. Valeant will assume all development costs associated with the regulatory approval for brodalumab. Regulatory submission in US and EU for brodalumab in moderate-to-severe psoriasis is planned for the fourth quarter of 2015. As per agreement terms, Valeant will make an up-front payment to AstraZeneca of $100 million, as well as additional pre-launch milestones of up to $170 million and further sales-related milestone payments of up to $175 million following launch. After approval, AstraZeneca and Valeant will share profits. The company said it expects the transaction to complete in the fourth quarter of 2015, subject to customary closing conditions, including Hart-Scott-Rodino anti-trust clearance.

AstraZeneca PLC Signs License Agreement with Valeant Pharmaceuticals International, Inc

AstraZeneca PLC has entered into a collaboration agreement with Valeant Pharmaceuticals International Inc. under which AstraZeneca will grant an exclusive license for Valeant to develop and commercialize Brodalumab. Brodalumab is an IL-17 receptor monoclonal antibody in development for patients with moderate-to-severe plaque psoriasis and psoriatic arthritis. Under the agreement, Valeant will hold the exclusive rights to develop and commercialize Brodalumab globally, except in Japan and certain other Asian countries where rights are held by Kyowa Hakko Kirin Co. Ltd. under a prior arrangement with Amgen Inc., the originator of Brodalumab. Under the terms of the agreement, Valeant will make an up-front payment to AstraZeneca of $100 million as well as additional pre-launch milestones of up to $170 million and further sales related milestone payments of up to $175 million following launch. After approval, AstraZeneca and Valeant will share profits. The transaction is expected to complete in the fourth quarter of 2015.

AstraZeneca and Peregrine Pharmaceuticals to Collaborate on Solid Tumor Trial

AstraZeneca and Peregrine Pharmaceuticals are collaborating on an early-phase clinical trial to evaluate the safety and efficacy of two novel investigational drugs in patients with a range of solid tumor types. The Phase 1/1b trial, slated to start in 2016, will combine it's durvalumab, an anti-PDL1 immune checkpoint inhibitor, with Peregrine's bavituximab, a phosphatidylserine-signaling pathway inhibitor. Preclinical data show that tumor-specific T-cells have a prolonged ability to continue attacking a tumor when the antitumor activity of bavituximab is combined with checkpoint inhibitors such as PDL1 antibodies, the companies say. The nonexclusive collaboration is the latest indication of significant interest in Peregrine's bavituximab as a potential key component in immuno-oncology combos, says company spokesman Tim Brons.

AstraZeneca PLC and Peregrine Pharmaceuticals, Inc. to Collaborate on Immuno-Oncology Combination Clinical Trial

AstraZeneca PLC and Peregrine Pharmaceuticals, Inc. announced that they have entered into a cancer immunotherapy clinical trial collaboration. The collaboration will evaluate Peregrine’s investigational phosphatidylserine (PS)-signaling pathway inhibitor, bavituximab, in combination with AstraZeneca’s investigational anti-PD-L1 immune checkpoint inhibitor, durvalumab (MEDI4736). The planned Phase I/Ib trial will evaluate the safety and efficacy of bavituximab in combination with durvalumab in multiple solid tumors. Peregrine and AstraZeneca will collaborate on a non-exclusive basis, to evaluate the combination of bavituximab and durvalumab with chemotherapy as a potential treatment in various solid tumors. The Phase I part of the trial is expected to establish a recommended dose regimen for the combination and the Phase Ib part of the trial will assess the safety and efficacy of the investigational combination. Under the terms of the agreement, the initial trial will be conducted by Peregrine. Bavituximab and durvalumab are investigational immunotherapies with different mechanisms that assist the body's immune system in fighting cancer. Bavituximab targets and modulates the activity of phosphatidylserine, a highly immune-suppressive molecule expressed broadly on the surface of cells in the tumor microenvironment. The treatment increases activated T-cells in tumors and fights cancer by reversing the immunosuppressive environment that many tumors establish in order to proliferate. MEDI4736 is a monoclonal antibody directed against programmed cell death ligand 1 (PD-L1). Signals from PD-L1 help tumors avoid detection by the immune system. Preclinical data have demonstrated that combining the enhanced T-cell mediated anti-tumor activity of bavituximab with checkpoint inhibitors, like PD-L1 antibodies, prolong the ability of tumor-specific T-cells to continue attacking the tumor.

AstraZeneca Appoints Sean Bohen as Executive Vice President of Global Medicines Development and Chief Medical Officer, Effective September 15, 2015

AstraZeneca announced the appointment of Sean Bohen MD, PhD, as Executive Vice President of Global Medicines Development and Chief Medical Officer. He will join the company on 15 September. Dr. Bohen will be responsible for driving the progress of AstraZeneca's portfolio of small molecules and biologics investigational medicines through late-stage development to regulatory approval. As Chief Medical Officer, he will be responsible for patient safety across the entire AstraZeneca and Medimmune portfolio. Dr. Bohen joins AstraZeneca from Genentech where he was most recently Senior Vice President of Early Development.

 

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3M Co $140.14 USD +1.64
Abbott Laboratories $44.05 USD +0.48
Biogen Inc $295.66 USD +3.16
Eli Lilly & Co $80.57 USD +0.77
Valeant Pharmaceuticals International Inc C$301.14 CAD +4.94
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AZN

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Valuation AZN Industry Range
Price/Earnings 67.8x
Price/Sales 3.2x
Price/Book 4.4x
Price/Cash Flow 67.7x
TEV/Sales 3.2x
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